PROCUREMENT ANALYTICS
Strategic decisions driven by
SMARTER PROCUREMENT
ANALYTICS
Procurement Magazine takes a look at how organisations can drive strategic and informed decision making with smarter procurement analytics
WRITTEN BY : GEORGIA WILSON
Procurement functions of old once had a clearly defined mission : delivering cost savings in sourcing and purchasing . However , in today ’ s environment , procurement leaders have to navigate volatile markets with quick decision-making and contingency planning to maintain business continuity during disruption .
Chad Gottesman , Managing Director of the Sourcing and Procurement business at Accenture explains that in order to do this , procurement leaders need to have “ realtime , predictive insights so procurement can effectively monitor supplier networks , watch markets and maintain continuity in the face of market volatility . By applying analytics to procurement , leaders are able to enhance decision-making and business strategy with a much faster turnaround time . In turn , this increases cost savings , lowers operating cost and reduces risk — all things that procurement leaders are keen on doing .”
68 June 2021