TECH TALK
Navigating the AI Landscape in the Valve
Manufacturing and Distribution Market : Focus on Bill of Material Procurement and Response
In an era where artificial intelligence ( AI ) is revolutionizing industries worldwide , the valve manufacturing and distribution industry is poised to tap into this transformative technology . Yet , the application of AI within the realm of procurement processes and bill of material ( BOM ) response times is not a one-size-fits-all solution . It requires a fine-tuned approach , tailored specifically to the unique needs , and demands of the industry .
By Marty Dytrych , CEO , and Tige Richardson , CTO - Industrial Data Labs
Understanding the Current Landscape
The journey towards AI-enhanced operations begins with an understanding of the current inside sales process ’ s limitations . Today , most companies have yet to harness AI in their sales operations , leaving a wealth of untapped potential on the table . In the typical scenario , sales reps are tasked with manually interpreting BOMs , translating them into searchable terms for their ERP systems , sourcing the required items , and finally generating quotes . This process , while tried and true , is not without its flaws . It is time-consuming , susceptible to human error , and represents a significant drain on resources .
The Value of AI
Integrating AI into this process can spell the end for these inefficiencies , ushering in a new era of streamlined sales operations .
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With the power of AI , most of this process can be automated . AI applications are capable of understanding and interpreting BOMs , rapidly searching for the necessary items in the ERP system , and generating accurate quotes at a speed far beyond human capabilities .
Beyond just speed and accuracy , AI brings to the table a suite of other benefits . A welltrained AI model can reduce the workload on the sales team , allowing them to focus more on relationship-building and less on data entry . Moreover , faster response times can translate into higher customer satisfaction , increasing the hit rate and driving revenue growth and customer loyalty .
A Look Into the Future
The future of the valve manufacturing and distribution industry is undeniably intertwined with AI . As AI-powered solutions continue to evolve , we can anticipate even faster response times , more accurate quote generation , and increasingly streamlined procurement processes . However , it is essential to recognize that not all AI solutions are created equal . The secret to reaping the full benefits of AI lies in leveraging solutions designed and trained specifically for the unique challenges of the PVF industry .
Choosing an Effective AI Solution
In a marketplace bustling with AI solutions of varying quality , making an informed choice can be a daunting task . However , there are several key differentiators to look out for . The markers of a truly effective AI solution include deep technical expertise , a proven track record in delivering AI products , access to rich , industry-specific datasets , and a thorough understanding
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26 Valve World Americas | September 2023 • www . valve-world-americas . net