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Forge Aims to Modernize Procurement Management for Hardware Companies with AI

Image Credits: Forge
By: Headliners News / June 26, 2024

Meet Forge, a tech startup founded by brothers Emir and Haris Sahmanovic, aims to modernize the hardware procurement process, especially for industries like aerospace and defense. Emir, who previously worked as a mechanical engineer at companies such as L3Harris, Blue Origin, and Stoke Space, was consistently frustrated by the outdated and inefficient tools used for sourcing parts. This frustration led him to team up with his brother Haris, a former Meta software engineer, to create Forge in May 2023.

The startup‘s mission is to streamline and simplify the complex and often confusing hardware procurement process. Emir describes the current state of procurement as a “black box,” where engineers are not only kept out of the process but are also unaware of their team members’ procurement activities. This lack of transparency can lead to costly mistakes, such as paying unnecessary expedite fees due to miscommunication about delivery schedules.

Forge’s solution leverages AI to analyze and integrate supplier quotes—whether received as spreadsheets, text emails, or PDFs—into a unified platform. This approach eliminates the need for suppliers to adopt new tools, a significant barrier that has hindered previous standardization efforts in the industry. Emir highlights this as a core value proposition, emphasizing that suppliers can continue using their existing methods to communicate quotes, making it easier for companies to implement Forge’s system.

The platform offers a range of features beyond order tracking, including intake request management, purchasing workflows, quote comparison, and automated supplier onboarding and performance tracking. Engineers can customize workflows based on their company’s specific needs, catering to both large and small firms.

Forge has already attracted paying customers and plans to use the recent $2.1 million seed round, led by Google’s Gradient Ventures and supported by Y Combinator and other angel investors, to enhance its product and expand its team. The funding marks an early but significant milestone for the company, which was part of Y Combinator’s winter 2024 cohort.

Emir and Haris aim to use this capital infusion to address the inefficiencies they encountered in their previous roles, ultimately making the procurement process more transparent, efficient, and cost-effective for hardware companies.

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