An Introduction to Procurement Analytics

by   |   May 3, 2013 6:19 pm   |   0 Comments

Procurement is big business—and produces big data. Manufacturer or bank, government agency or restaurant chain, every organization spends significant amounts buying products and services. Raw materials, utilities, office equipment, stationery, and services such as legal advice, advertising, and facilities management. Roll it all together, and the amount is always impressive, equating to a significant percentage of overall revenues.

But what, precisely, is all that money spent on? Procurement analytics shines a spotlight into areas of expenditure that are often murkier than might be desired (and, as in the case of a steel mill that purchased too many parts for its gantry cranes, can waste resources). 

Read “Guide to Procurement Analytics,” Data Informed‘s introduction to the subject, including use cases, challenges relating to data quality and other implementation issues, by clicking here.

See these related articles: 

• Integrating Sustainability into Corporate Decision-Making

• Visualizations Highlight Data for Improving Manufacturer’s Procurement Process

• Effective Manufacturing Analytics Requires Cross-Functional Data Sharing

• Oversight Systems CEO Explains Business Transactions Analytics

• SmartOps Acquisition to Add Demand Sensing to SAP HANA for Supply Chain Management

And check out other articles in the Data Informed Guide series:

• Guide to Leading Data-Driven Organizations

• Guide to Predictive Analytics

• Guide to Marketing Analytics

• Guide to Sentiment Analysis

• Guide to Human Resources Analytics

Home page photo of Tata Steel mill at Port Talbot, U.K., via Tata Steel.  

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