Brothers Emir and Haris Sahmanovic have secured $2.1 million in funding to revolutionize the procurement process for hardware companies with their startup, Forge. The idea for Forge was born out of Emir’s frustration as a mechanical engineer at defense and space companies, where he encountered difficulties in obtaining the parts they needed. He believed that outdated software tools were hindering the hardware industry’s efficiency.
The current hardware procurement process is described by Emir as confusing, complicated, and wasteful. Engineers are often kept out of the process, leading to a lack of coordination and communication between team members. This can result in unnecessary expenses, such as expedite fees, when parts are ordered without knowledge of other team members’ schedules or delays.
Additionally, a lack of visibility into purchase histories and supplier capabilities leads to further inefficiencies. Engineers waste time trying to understand what needs to be ordered and from whom, causing delays and unnecessary costs.
Forge aims to address these issues by providing a centralized platform that streamlines the procurement process. Unlike existing tools that are primarily used for data storage, Forge’s system utilizes AI to analyze supplier responses and integrate the information onto its platform. This eliminates the need for suppliers to adopt new tools for different customers, a significant advantage that sets Forge apart from other standardization attempts.
The platform also allows engineers to create custom workflows based on their company’s needs. This flexibility is particularly crucial for larger firms compared to smaller ones. In addition to order tracking, Forge’s software offers features such as intake request management, purchasing workflows, quote comparison, and automated onboarding and performance tracking of suppliers.
Forge already has paying customers and plans to use the seed funding to further enhance the product and expand their team. The Sahmanovic brothers are confident that their solution will revolutionize the hardware procurement process, saving engineers’ time, optimizing supply chain operations, and ultimately reducing costs for companies in the industry.