Category Procurement Analytics

Supplier Scorecard

How to Create an Effective Supplier Scorecard : A Comprehensive Guide for Improved Business Performance

In today’s highly competitive business landscape, having a well-defined supplier scorecard can be the key to unlocking improved performance and driving success. Effective supplier evaluation and management play a critical role in ensuring efficient supply chain operations, reducing costs, and strengthening partnerships. In this comprehensive guide, we will delve into the essential steps and best practices to create an effective supplier scorecard. Whether you are a small business or a large organization, this guide will equip you with the knowledge and tools to evaluate and select the right suppliers for your needs. We will explore the various metrics and key performance indicators (KPIs) that should be included in your scorecard, such as quality, delivery, cost, and responsiveness. Additionally, we will discuss how to set realistic and measurable goals, establish clear communication channels, and maintain ongoing supplier performance monitoring. By implementing an effective supplier scorecard, you can optimize your procurement processes, mitigate risks, and ultimately enhance your business performance. So, let’s dive in and discover how to create a supplier scorecard that drives success!

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Alteryx Alternatives

Looking for an alternative to Alteryx?

Alteryx has carved a niche as a popular data wrangling and analytics platform, praised for its drag-and-drop interface and ease of use. But with high user licence costs, diverse user needs and evolving technologies, it’s not a one-size-fits-all solution.

So, are you seeking alternatives to Alteryx? You’ve come to the right place! This blog explores several options, each with unique strengths and considerations.

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i2B DataKITE Screen shots

How DataKITE and Power BI can help identify procurement cost savings

DataKITE is a business intelligence (BI) tool that can help your procurement department to improve efficiency, reduce costs, and make better decisions. DataKITE Power BI can be used to collect, analyze, and visualise data from a variety of sources, including i2B or any other procurement systems, e-catalogs, and supplier websites. This data can then be used to create reports and dashboards that provide insights into procurement performance.

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DataKITE-Spend-Analytics

4 Top Tips for a Successful Supplier Renegotiation Process

We’ve participated in hundreds of negotiations with suppliers over the years, which has provided us with valuable insights into how to ensure a successful renegotiation process.

In this article, we share four top tips on how to secure sustainable, long-term results from your supplier renegotiations.

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i2B DataKITE Screen shots

How DataKITE and Power BI Can Help Your Procurement Department

DataKITE is a business intelligence (BI) tool that can help your procurement department to improve efficiency, reduce costs, and make better decisions. DataKITE Power BI can be used to collect, analyze, and visualise data from a variety of sources, including i2B or any other procurement systems, e-catalogs, and supplier websites. This data can then be used to create reports and dashboards that provide insights into procurement performance.

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Do You Trust your Data?

Building a Fortress of Data

How to Ensure Top-Notch Quality Information in Your Company

Data is the lifeblood of any successful organization in today’s digital age. But just like a building, even the most impressive structure crumbles if the foundation is weak. In this case, the foundation is data quality.

This blog post will serve as your blueprint for constructing a fortress of data – a system that ensures the information you rely on for decision-making is accurate, complete, and trustworthy.

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5 Reasons to bring your Spend Analytics online. Software as a Service (SaaS). An insight.

Access to a high quality spend analytics tool is a critical component of how the modern procurement function operates.

Data analysis has transformed how we assess buying behaviour, identify supply risks and opportunities, and develop our procurement and category strategies.

But over time, outsourcing spend analytics tools has become the industry norm, with third parties hosting company data and displaying it back to the customer via their dashboards.

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i2B DataKITE Screen shots

What is Spend Analysis?

Spend analysis involves identifying, gathering, cleansing, categorising, grouping, and analysing the spend data of your organisation. As a result, procurement costs are reduced and efficiencies are improved by increasing visibility and transparency. Real-time data and analytics provide the insight you need to save money and improve efficiency.

An analysis of spend is only part of the much larger field of spend management. With it, you can visualize all your data to make better sourcing and supplier decisions. Also, it can reduce cycle times and identify maverick spending as well as improve contract compliance.

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i2B DataKITE Screen shots

What are the benefits of a spend analytics tool?

Many companies spend money to ensure their customers receive the best quality product or service. The hidden costs are often overlooked. Spend analytics tools measure how much money companies spend on procuring products and services.

Some companies are already (or are planning to) invest in a spend analytics tool in order to manage their spend, but due to a lack of knowledge, many are realising the true value of spend analytics.

Here are some of the benefits to help you understand what spend analytics can bring to your organisation.

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