Magentic builds autonomous AI agents designed for global manufacturers seeking to optimize procurement and supply chain operations. The London and New York-based company targets the $3tn supply chain and procurement market with a platform that deploys AI teammates, called 'Mages,' to work alongside human procurement teams. These agents automate complex workflows, identify cost savings, and manage supplier communications.
The company's technology spans AI agents, supply chain AI, and procurement automation. Its Enterprise-grade AI Agent Platform processes end-to-end procurement workflows while maintaining human oversight. The Mages product specifically focuses on uncovering cost reduction opportunities and streamlining supplier document management.
Magentic reports measurable results across its deployments, including 4% savings on MRO spend and the identification of errors in 25% of supplier documents processed. The platform addresses procurement tasks that are described as among the most time-consuming in global supply chain operations.
