Fairmarkit vs. Fourth Procurement and Inventory

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Fairmarkit
Score 10.0 out of 10
Enterprise companies (1,001+ employees)
Fairmarkit is an autonomous sourcing platform that transforms tail spend and strategic spend so organizations can source more competitively at scale. It integrates with ERP and P2P systems to automate manual source-to-award workflows so procurement teams can manage more events and reduce cycle times by without adding resources. Fairmarkit’s AI-powered supplier recommendations find the best-fit suppliers for events by leveraging an organization’s procurement data,…N/A
Fourth Procurement and Inventory
Score 8.0 out of 10
N/A
Fourth Procurement and Inventory is software that ties together procurement, 3-way matching, inventory and recipe control. It’s fully integrated, mobile-friendly and can be accessed with a single login. Using predicted sales functionality and analytics, it lets the user forecast demand more accurately.N/A
Pricing
FairmarkitFourth Procurement and Inventory
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
FairmarkitFourth Procurement and Inventory
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
YesYes
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details
More Pricing Information
Community Pulse
FairmarkitFourth Procurement and Inventory
Top Pros
Top Cons
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FairmarkitFourth Procurement and Inventory
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No answers on this topic

All AlternativesView all alternativesView all alternatives
User Ratings
FairmarkitFourth Procurement and Inventory
Likelihood to Recommend
10.0
(1 ratings)
7.4
(4 ratings)
Support Rating
-
(0 ratings)
7.5
(4 ratings)
User Testimonials
FairmarkitFourth Procurement and Inventory
Likelihood to Recommend
Fairmarkit
Tooling, packaging, shipping supplies, and fasteners have given us the best results. Sourcing for food vending was not very successful.
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HotSchedules and Fourth
The product is user-friendly in automating the tasks, managing the master data through central purchasing, and creating custom reports. It lacks certain basic functionalities like a record of wastages, sending automated emails confirming if the automatic tasks (scheduled tasks) have been completed or not, and the ability to automate the nutrition information, etc.
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Pros
Fairmarkit
  • compares bids
  • ranks potential supplier for each RFQ
  • messaging inside the app is more effective than emails
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HotSchedules and Fourth
  • The 'stock management' tab on the home screen is of particular use when keeping tabs on incoming deliveries into the restaurant.
  • The option to open and close your stock period is great as you have the chance to edit your stock at a moment's notice.
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Cons
Fairmarkit
  • making customs fields have required input by the buyer
  • a little more flexibility in the reporting, driven by the user
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HotSchedules and Fourth
  • It would help massively to see via Enterprise and menu items what ones are no longer active, to keep the data tidy.
  • When you take purchase reports from Enterprise and select to organise them by category, show the name of the category on the actual report download.
  • Quick and easy upload/download of supplier products for correcting prices, descriptions, prices in bulk.
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Support Rating
Fairmarkit
No answers on this topic
HotSchedules and Fourth
Too long to get an answer.
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Alternatives Considered
Fairmarkit
Fairmarkit brought a better value to the table that other competitors.
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HotSchedules and Fourth
No answers on this topic
Return on Investment
Fairmarkit
  • Our 1X ROI was achieved in 4 months
  • After one year the savings exceeded our target
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HotSchedules and Fourth
  • Procurement: Integrating some of the key suppliers with Trade Simple has saved labour hours.
  • Integration: GL Integrations have increased the efficiency and quality of data.
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ScreenShots

Fairmarkit Screenshots

Screenshot of Fairmarkit integrating directly into existing enterprise resource planning (ERP) and procure-to-pay (P2P) platforms to create a seamless buying experience. Choose requisitions to source through the platform seamlessly sends the RFx data to Fairmarkit.Screenshot of Fairmarkit's artificial intelligence recommended approved vendors that can provide the requested goods or services, that appears after importing or creating a requisition. Other non-registered vendors can be added from the Fairmarkit vendor ecosystem. After selecting vendors and submitting a request, Fairmarkit will handle soliciting and collecting bids.Screenshot of For RFP events, Fairmarkit can keep evaluation and scoring information in one place to make awarding decisions easier. Evaluators can evaluate and score all or select supplier responses. Supplier responses can be viewed side-by-side for fast comparison.Screenshot of Within 24 hours of sending a request, vendors can submit quotes which will be centralized in one place for processing. Machine learning algorithms will make recommendations based on the responses received. If the request has multiple items, the option can be awarded to one or more vendors, and that information will flow back into a connected ERP or P2P.Screenshot of Fairmarkit offers AI and automation in various ways to make sure that sourcing events is as easy as possible. Guided RFP creation will suggest sections and questions for RFP users to speed event creation.

Fourth Procurement and Inventory Screenshots

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