Resilinc CommodityWatchAI GA
December 10, 2021
artificial intelligence (AI)-powered tool monitors over four million
data sources and trends on key commodities – including but not limited
to gold, copper, aluminum, silicon, and paper – and predicts price
fluctuations in the coming months by analyzing historical data on how
these commodities have responded when faced with similar circumstances.
Armed with this data, organizations can make strategic purchasing
decisions, negotiate favorable contracts, and protect continuity of
“Rare earth elements and commodities like precious metals, industrial
gasses, chemicals, and even paper are resources with limited supplies.
As more and more commodities go into constrained and delayed stages, we
see intense cross-industry competition for them,” said Resilinc CPO and
co-founder, Sumit Vakil. “CommodityWatchAI delivers dynamic, rapidly
updating insights into price and supply availability. That empowers
category managers and buyers to negotiate advantageous terms.”
One of the most significant challenges in supply chain management is
anticipating price fluctuations of raw materials and goods in unstable
global markets. Category managers and buyers need fresh, dynamic
information about price and supply trends. In today’s world, static
snapshots delivered every quarter or month are insufficient and
companies lose the window of opportunity to take advantage of price and
CommodityWatchAI is a first-of-its-kind product that provides customers
with warnings on price fluctuations two to three months prior. It does
this by leveraging AI, historical data, and machine learning to: send
alerts about an event or trend that is impacting supply and demand for a
specific commodity; predict the risk level and price fluctuation; and
propose a purchasing action plan for commodity and sourcing teams.
uses Resilinc’s AI capabilities to scan 4.2 million data and news
sources to identify events or supply and demand trends that could
potentially impact pricing for specific commodities or raw materials,”
said Shahzaib Khan, Resilinc’s Senior Director of Data and Product.
“When an event occurs, it then uses AI to look at pricing trends for
that commodity over the past 10 years, when faced with the same event or
supply and demand trend. Users are then provided with the predicted
price fluctuation of that commodity over the subsequent three months.”
Currently, CommodityWatchAI monitors dozens of commodities including but
not limited to gold, silver, aluminum, copper, caustic soda, cobalt,
helium, paper, and tin; all were chosen due to their wide use across
products and industries. Resilinc will continue to add commodities to
the platform on an ongoing basis.
CommodityWatch AI is part of Resilinc’s evolution and vision to
integrate AI and machine learning with supply chain risk management,
bringing predictive supply chain visibility and resiliency to customers.