Tag: Supply Chain

Data will enable suppliers to manage their customers better; and, data will enable procurement to manage suppliers better. Detailed analytics will allow teams to track best and worst performers and adjust the supply chain accordingly quickly.

Data is the new oil, but how will it fuel procurement in the future? One way is for data to predict the future. Currently, the focus of data analysis is to examine the past. Spend analysis and management involve processing and analysing data to decrease procurement costs, improve efficiency and monitor compliance.