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Spend analysis, budgeting & reporting

Strategy in the supply chain

Best-in-class procurement happens when we transform from an operational tender phase to a more holistic procurement and supply-chain strategy.

By combining broader market dynamics with your current performance, you can begin to think more holistically about how logistics contributes to overall business performance.

Know your spend 

Analyze and understand your overall spend compared to the market.

Compare to peers 

Find out where your performance stands relative to others in your industry.

Create a realistic plan 

Turn insights in to a realistic, actionable spend and budget plan.

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Spend analysis, budgeting & reporting

  • Gather internal data

    Gathering internal data is the first step to be able to derive actionable insights from enterprise purchase activity. As a procurement professional, you begin by collecting all relevant data from many systems and organising it. This includes shipping history, spend data, KPIs and feedback from internal stakeholders.

  • Gather market data

    Gathering market data is a critical step for best-in-class procurement.  By looking outside of your own business goals to understand the broader market developments, you are able to understand your performance in context. 

  • Analyze spend

    Analyzing spend helps you understand your procurement performance relative to the market. 

    By understanding your performance,  you can then explain your success following and tender and help to define expectations of performance in the future.

  • Determine future budget

    By determining future budget, leadership can set clear goals and expectations for stakeholders within the organization, the procurement department and the budgeting process itself. 

    When you understand how the market is developing, you can plan what that means for your procurement strategy and overall budget. 

  • Report to C-level management

    Supply-chain and logistics leaders need to consistently prove performance, deploy continuous improvement processes and forecast future costs. 

    By clearly understanding cost implications within the context of the market, they can clearly communicate reductions related to efficiency gains from the implementation of modern procurement processes.   

Next step: Strategic Sourcing


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