Procurement Insights

Procurement function must consider following 6 points in their decision making to become a successful procurement organization. Procurement success is measured by what extend procurement function has been contributing to organizations financial success and revenue growth. How deeper it has participation in organizations innovation strategies. What cost saving goals has been achieved by procurement function […]

It promotes collaboration between manufacturers and suppliers that ensures long-term benefits of both the party. To ensure that quality and inventory needs are fulfilled at optimum cost. It promotes supplier to be a part of our innovation journey to keep us competitive in the market. The partnership creates a sense of trust and accountability and […]

Why to do Spend Analysis? Following are the few main reasons for doing spend analysis for our business: To prepare more detailed and accurate financial and annual reports for our company To find opportunities to cut costs across all sped category To create budget and forecast for as procurement To spot fraudulent or unacceptable maverick […]

Information required for informed Sourcing Decisions is either company’s internal data or external data of supply market. Internal data source is mainly company’s ERP data that is further cleansed and analysed in Spend Analysis.