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Procurement Analytics

Course Summary

This training aims to equip procurement professionals with advanced analytical skills essential for optimizing savings, enhancing quality, and effectively managing suppliers. This comprehensive training will encompass various types of analytics tailored for both direct materials spend and indirect spend. Participants will learn how to leverage analytics to drive strategic decision-making, enhance cost-efficiency, improve supplier relationships, and elevate overall procurement performance.

Course Objectives

Understand and Learn

  • Key concepts and elements of developing a Category Strategy
  • How to use and apply the Procurement Handbook and the Lever Selection Tool Bull’s Eye
  • How to manage and address all spend within Procurement Categories
  1. Introduction to Procurement Analytics
  • Understanding the Role of Analytics in Procurement
  • Overview of Analytics Types: Descriptive, Predictive, Prescriptive
  • Application of Analytics in Direct Materials Spend Management
  • Case Studies: Analytics’ Impact on Savings and Quality Improvement
  1. Analytics for Indirect Spend and Supplier Management
  • Analytics Techniques for Indirect Spend Optimization
  • Leveraging Data for Supplier Performance Evaluation
  • Quality Improvement through Data-Driven Decision-making
  • Workshop: Practical Application of Analytics in Supplier Management
  1. Advanced Analytics and Tools
  • Advanced Analytics Models and Tools in Procurement
  • Predictive Modeling for Demand Forecasting in Procurement
  • Using Prescriptive Analytics for Supplier Relationship Enhancement
  • Interactive Session: Exploring Advanced Analytics Software
  1. Implementing Analytics Strategies
  • Developing an Analytics-Driven Procurement Strategy
  • Creating Dashboards and Reports for Performance Monitoring
  • Case Studies: Successful Implementation of Analytics Strategies
  • Workshop: Designing Actionable Analytics Plans
  1. Future Trends and Wrap-Up
  • Emerging Trends in Procurement Analytics
  • Integration of Artificial Intelligence (AI) and Machine Learning (ML) in Procurement
  • Review and Q&A: Application of Analytics in Real Procurement Scenarios
  • Course Recap and Closing Remarks

Pre-requisites: Understanding of procurement data

Target Audience

  • Category Managers
  • Other employees working within Category Management
  • Employees with an active role in the Plan-to-Strategy process

A pre-requisite for attending the course is ownership of a specific category or spend area.

Course Duration

2 Days

Facilitator

Ctrlpsend Procurement Employees

Course Fee

$600

Place

Classroom/Virtual upon request

Cancellation policy

Deadline for cancellation free of charge is 4 weeks prior to each course. In case of a cancellation later than that, the employee’s department will be charged the full course fee. The departments/business units are allowed to replace their participants.

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