12/31/2023 0 Comments Merin finetunesAnalytics also helps you get better visibility of pricing and cost drivers with analysis such as should-cost analysis, PPV analysis, part cost breakdown analysis, etc. It also helps in determining which suppliers to choose by providing detailed data on the quality and risk profiles of those vendors. In sourcing, analytics can assist in determining the optimal times to perform sourcing events and other sourcing-related activities. Such analytics can be used to rationalize categories and choose appropriate sourcing strategies tailored to a group of Categories. When used properly, Category Managers can leverage analytics reports such as managed spend per category, suppliers by category, POs per category, the share of business by category, etc to manage category strategies and improve category performance.Īnalytics can also be used to compare the performance of one or more related Categories vs another group of Categories. With the emergence of data analytics, Kategorieverwaltung is no longer restricted to tactical planning that relies on standard product planning processes. It also allows you to manage various aspects of suppliers including tracking sustainability targets and managing supplier risks more effectively. The right procurement analytics tools can assist procurement specialists in gaining insights such as spend by the supplier for the item, category, regions, etc, and selecting the most cost-effective suppliers. Supplier ManagementĪnalytics may be used in Supplier Management to measure and analyze supplier performance trends, compare the performance of various suppliers, analyze supplier risks and rationalize the supply base. Hence, it is important to prioritize focus areas and take one step at a time. One insight leads to other possibilities and the journey never ends. Analytics, by nature, is exploratory and hence there is no defined end-state. It is easy to drown in such possibilities and become analytics-paralytic. One of the reasons why Strategic Sourcing analytics appear daunting is due to the sheer number of possibilities and veracity of outcomes. This guide aims at making the steps involved clearer and easier to follow: Prioritization of Focus Areas in Strategic Sourcing Analytics However, for enterprises aspiring to become Strategic in Sourcing and start analytics, the path ahead may appear daunting and complex. Moreover, the decision to make Sourcing strategic is mostly an outcome of the insights thrown by analytics. Many of the strategic decisions made by Sourcing leadership are derived from or aided by analytics. In fact, it would not be an understatement to call analytics one of the key pillars of Strategic Sourcing and Procurement. Analytics plays a critical role in Strategische Beschaffung Strategic Sourcing.
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