Your procurement team is struggling to find the right analytics tools. How can you help them?

Before understanding your goals, identify the problem or gap. Where is your problem and how do you think that analytics can solve the problem ? What type of analytics do your require ? a low code or no code version, code or stats intensive solution or visualizing solution ? Do you want to forecast your problem or is your analytics going to be a postmortem approach that will be a learning journey ? Based on these plus a few other parameters you complete the initial phase. Next comes the biggest challenge, do you have the right data available ? data granularity and is the data harmonized (eg. spend, UoM, bank master) ? If not, your primary project must be to get the data in shape before considering the tool. Dependencies are expensive!

It’s critical to understand what your companies capabilities are when it comes to data analysis, don’t just pick the tool that promises the most. Connectivity, user interface, speed and ability to change data sets and ability to change views quickly are very important. But do these give you the multilayered metrics you need to answer YOUR specific questions. Is your data time stamped over a rolling 6,12,24 months? Can you view sales at each hierarchal level in your organization? Do you have ODBC connectivity? Once you know what data you have access to and what data mining and staging abilities you have in your organization; only then can you start to select the right fit for your analytics tools.

I think it's important to understand the process and the specific metrics the team needs. Selecting the right tool must align with the team's data analysis capabilities and offer features like intuitive interfaces and the flexibility to handle various data sets. I think the approach should be finding a tool that provides detailed insights into the team's needs. For me, factors like user interface, speed, adaptability to different data sets, and the agility to switch views would be best. Additionally, The tool should be able to analyze data across different time frames and organizational levels. Ultimately, a thorough review of the team's data infrastructure should lead the team to select a tool that meets their specific needs.

Una herramienta que nos ayuda a no desviarse del objetivo y encauzar dentro de un proceso las compras, es realizar una política adecuada, dónde el equipo tenga conocimiento del alcance, los objetivos y los lineamientos que debe seguir. En mi experiencia es importante tener KPI's que permitan a analizar si los resultados que estoy buscando en las compras, negociación y gestión proveedores, se están cumpliendo.

The knowledge of procurement teams would be able to develop what the organisation is after to procure If they can not solve the issues you may have the Wong team

We have to analyze what are the priorities of the process to organize useful strategies to achieve the objective. To understand how the process works it is indispensable to know first what are the steps, and what are the metrics we are looking for to start analyzing, organizing and implementing new strategies.

To help your procurement team find the right analytics tools, you can start by understanding their specific needs and goals. Then, research and provide options based on those requirements, offer training and support in using the tools effectively, and seek feedback for continuous improvement. Additionally, consider consulting with analytics experts or vendors for tailored solutions.

Hoy por hoy existe un universo de posibilidades de Procure tech para analizar la información de las adquisiciones, desde herramientas low cost hasta los softwares más laureados con lo que procurement se refiere para todas las partes del proceso, lo importante es analizar la información y que realizas con ese análisis.

The tools shall have a default mechanism to generate a status to understand the lead times,budgets,hindrances and priority areas,any clearances pending from other related departments,special items,etc.,to ultimately evaluate the status and the action neccessary. This is from a construction perspective. The flexibility in tune with ground situation,contractually, taking care of the interests of the owner during the course of implementation. A total comprehensive approach is a must to avoid all probability of a conflicting areas.