Startup Of The Week

Startup Of The Week: scoutbee

startup of the week: scoutbee
CEO Gregor Stuhler

The world’s supply chains are being squeezed, from the pandemic-driven rise in consumer demand for tech goods to a backlog of imports at California ports to U.S. factory outages caused by bad weather. Enter Scoutbee, a scale-up using AI to transform supplier discovery and supplier information management. Its technology tools add transparency to what supply options are available locally and globally, and introduces corporates to a range of options that help them overcome traditional obstacles like language and geography. Its customers include Airbus, Audi, Siemens and Kärcher.

Given the context of post-COVID-19 supply chain disruptions in everything from semiconductors to plastics, the need to strengthen and diversity supply chains has never been so vital, says CEO and co-founder Greg Stühler.

 Scoutbee claims its platform scouts up to 180 times more suppliers than traditional manual searches, some 75% faster. It uses billions of supply chain data points to identify optimal supply options and can cut sourcing time from months to just weeks and days.  For example, during the current global semiconductor shortage, scoutbee says it supported teams at some of the largest automotive manufacturers to identify optimal suppliers, as well as distributors and reseller options across high end semiconductor categories. 

“As with any commodity with a six to nine month lead time, any volatility in supply can have profound effects,” Michael Bauer, Senior Key Account Manager Automotive at scoutbee, said in a prepared statement. “While the semiconductor sector scales up, we have worked with clients to ensure that they have the most accurate view of their supply options in order to meet their manufacturing requirements. A high degree of market intelligence means they can adapt their purchasing models in the short and medium term with confidence”.

But it is not just during times of crisis that companies need to widen their supplier options. “”It is procurement team that are disproportionately responsible for a company’s financial performance but most often lack digital tools to unleash their strategic value,” Stühler said in response to written questions from The Innovator. “That’s why we built scoutbee.”

The company is working with multinational clients in sectors that include aerospace, automotive, machinery, manufacturing, fast moving consumer goods, oil/gas, chemicals and pharmaceuticals.

SEW Europe, a manufacturer of drive technology, used the company’s technology to scout 12 times more potential suppliers than through manual scouting, with project resources being reduced by roughly 75%, according to scoutbee.

The company, which has raised $76 million in venture capital to date, was named one of Gartner’s 2020 Cool Vendors in Sourcing and Procurement for Supply Chain.

Its competitors include Canada’s Tealbook, UK-based HICX Solutions, and U.S. firms GEP and apexanalytix .

To access more of The Innovator’s Startup Of The Week articles click here.

About the author

Jennifer L. Schenker

Jennifer L. Schenker

Jennifer L. Schenker, an award-winning journalist, has been covering the global tech industry from Europe since 1985, working full-time, at various points in her career for the Wall Street Journal Europe, Time Magazine, International Herald Tribune, Red Herring and BusinessWeek. She is currently the editor-in-chief of The Innovator, an English-language global publication about the digital transformation of business. Jennifer was voted one of the 50 most inspiring women in technology in Europe in 2015 and 2016 and was named by Forbes Magazine in 2018 as one of the 30 women leaders disrupting tech in France. She has been a World Economic Forum Tech Pioneers judge for 20 years. She lives in Paris and has dual U.S. and French citizenship.