Procurement Analytics is the process of how data can be extracted, refined and analyzed to deliver actionable business insights. It touches procurement activities beyond spend analysis. It includes strategic sourcing, category management, contract management and procure-to-pay processes.
In strategic sourcing, analytics can identify which suppliers to include in sourcing projects and provide rich information into supplier’s quality and risk positions. In category management it can identify savings opportunities, segment and prioritize suppliers. In contract lifecycle management it can alert on contracts needing renegotiation and identify maverick spend to help compliance and improve contract coverage. In procure-to-pay processes, analytics can evaluate payment accuracy, discover rebate opportunities, identify mistaken payments and reduce fraud.
This workshop is the first of a series of workshops that we are planning to enable supply chain professionals to work with data-driven analytics-based tools. This workshop is a first in overall Supply Chain analytics focusing on the procurement function and designed to help create an action plan for transformation using analytics. A practice focused workshop, it will show participants how they can turn data insights into actionable business outcomes and forge a data culture with a single version of truth across functions. Further workshops in the sequence will be organised in the areas of Fulfilment Analytics, Supplier Risk & Performance
Analytics and Inventory Optimisation Analytics and more.
|Start Date||End Date||Venue|
|06 Oct, 2021||09 Oct, 2021||Live-Online|
A basic understanding of the statistical tools / techniques available in excel for use in analytics with specific focus on the procurement data A deeper understanding of deriving value in Procurement function (Cost savings opportunities, Spend analysis etc.) Re-emphasize key role played by procurement function in the overall supply chain with an analytics perspective How to look for process efficiencies and Digitization opportunities in Procurement function Ensuring achievement of quality, time and cost objectives of raw material management.
Foundations of Analytics
▶ Statistical Tools in Excel
▶ Introduction to Data structures and analytics
Supplier Management Analytics
▶ How to Segment Suppliers
▶ Supplier Risk Profile models
▶ Supplier performance Scoring Models
Procurement efficiencies & Digitization Analytics
▶ Cycle Times across Procurement Functions
▶ Manual tasks across Procurement functions
▶ Non-Value-Added activities
Spend Management Analytics
▶ Spend Under Management Models Direct / Indirect Spend
▶ Purchase Order Spe Contract and Off Contract Spend Pricing
The delivery of the program will be through interactive sessions involving case studies from practice of resource persons and hands-on practice on Excel
Mr. Hemant Gupta
is currently the founder and CEO of Navigdata, an analytics partner for companies who are looking to be data driven in their decision making. With over 20 years’ experience in the IT industry with a
focus on enterprise applications, analytics among others, he has worked extensively across the spectrum of Supply Chain, manufacturing, value chain integration and digital transformation. A renowned thinker and
business strategist, Hemant is an IIM and MIT Sloan alumnus.
brings with him over 20 years of experience in the IT / IT services industry with a focus on BFSI, Telecom and Automotive as industry sectors. He is a keen business modeler and specializes in AI and digital consulting with a focus on services companies. He specializes in gamification models and is an IIM and Harvard alumnus.
is a certified consultant with M/s Frontline Systems Inc, USA a leader in providing Predictive and Prescriptive Analytics solutions for Industry. He has successfully executed consulting projects for
diverse Industries to help them improve their operations through analytics solutions. He is currently Head – External Programs at ISME, Bangalore