OAKLAND, Calif., Sept. 12, 2024 (GLOBE NEWSWIRE) -- The University of California (UC) has recently chosen Labviva, the leading AI procurement platform for life sciences, to enhance the efficiency of procurement and research-related purchasing across all UC campuses. The initial Labviva deployment occurred at UC San Diego in 2022, with UC Merced going live in September 2024.
Meagan Torres, Associate Vice-Chancellor and Chief Procurement Officer at UC Merced, highlighted how Labviva will improve existing processes. "Labviva streamlines the requisition process by providing 1:1 product comparisons across vendors, price and shipping comparisons, responsive search results, and supplemental information like peer-reviewed papers and molecular structure breakdowns. This intelligent solution empowers faculty, researchers, and staff to make well-informed buying decisions, aligning campus needs with UC's financial goals and responsibilities."
Optimizing research procurement with flexibility across multiple locations
Siamak Baharloo, CEO of Labviva, stated, "Labviva uses technology to create connections and build partnerships across the entire procurement ecosystem to accelerate the pace of life science research. With real-time analytics and AI-driven product recommendations, we empower the UC system to take control of their spend, improve product selection, and gain greater insights and visibility into trends."
UC required a solution that would plug into procurement technologies at 10 campuses, six academic health centers, and three national laboratories. Labviva’s intuitive platform can operate as a stand-alone solution or integrate directly into leading procurement systems, including Jaggaer, Oracle Procurement Cloud, SAP Ariba, Microsoft Dynamics 365, and Coupa. Labviva will help UC research operations optimize purchasing, speed fulfillment, maintain compliance, and create visibility into the procurement process.
Aligning purchasing with UC’s values and goals
UC aims to allocate 25% of its addressable spend to certified small and diverse businesses by 2025. Labviva’s highly configurable platform enables each UC campus to customize search results and specify which suppliers are featured and when. This empowers purchasing agents to make the best research choices while keeping them aligned with UC’s values and goals. Labviva’s real-time purchasing analytics dashboard charts spend by category, vendor, user, timeframe, and project for accurate reporting on UC spend.
“Since integrating Labviva into our ecommerce platform in 2022, UC San Diego has been able to greatly enhance the shopping experience for campus end users,” said Greg Muller, Senior Manager, Strategic Sourcing, UC San Diego. “This tool helps our shoppers find items quickly, compare prices at a glance, and easily make repeat purchases. We’ve implemented several improvements in search results, line of sight to inventory, and influenced shopping behavior to maximize cost savings. Plus, using a small business supplier like Labviva models our goals of supporting small businesses, and its functionality encourages our shoppers to use small, sustainable, and diverse suppliers.”
The agreement between Labviva and UC is for a 3-year initial term, with two annual renewal options at UC’s discretion. The award to Labviva, a certified Small Business, underscores UC’s commitment to supporting small and diverse businesses.
“Labviva helps UC Procurement transform how the University purchases goods and services to maximize benefit to the system while improving quality and service to our campus partners,” said Paul Williams, UC Systemwide Procurement Associate Vice President & Chief Procurement Officer. “This e-procurement upgrade is indicative of our commitment to best-in-class sourcing methods, investment in the latest technology, and the cultivation of strategic supplier partnerships to source the highest-quality products and services at the best value.”
About the University of California:
The University of California (UC) opened its doors in 1869 with just 10 faculty members and 40 students. Today, UC is the world’s leading public research university system with more than 280,000 students and 227,000 faculty and staff, and over two million alumni living and working around the world. To learn more about how UC’s research advances understanding of the world and improves lives, visit: www.universityofcalifornia.edu.
Media Contacts:
Bara Waters
UC Systemwide Procurement – Sr. Officer | Communications & Training
510-987-9877
bara.waters@ucop.edu
Terese Merrell
UC Systemwide Procurement – e-Procurement Manager
510-587-6363
terese.merrell@ucop.edu
About Labviva:
Labviva connects researchers with suppliers of reagents, chemicals, and instrumentation in an intuitive platform that supports the priorities of scientists while staying compliant with purchasing rules. Suppliers can easily manage the content of their products, and products are mapped into scientific applications, techniques, and protocols. For more information on how Labviva accelerates the science of life, visit: www.labviva.com.
Media Contacts:
Jennifer Schenberg
PenVine for Labviva
917-445-4454
jennifer@penvine.com
Gabby Lescarbeau
PenVine for Labviva
413-896-1991
gabby@penvine.com
