Key Capabilities to Transform Data into Critical Supplier Insights
Supplier visibility
Access a user-friendly dashboard for comprehensive insights into supplier performance, risk and compliance, enabling informed decision-making.
Reporting and dashboards
Enable decision-makers to better grasp supplier and business dynamics through real-time searches, reporting, KPIs, and dashboards.
Risk management
Identify and mitigate potential supplier risks associated with suppliers, such as financial instability, delivery delays, regulatory compliance or quality issues.
Performance management
Monitor supplier performance and track key metrics aligned with your goals and strategic initiatives through a data-driven approach.
Data management
Simplify your approach to data access and reduce your dependence on outdated tools and complex reporting methods.
Next Steps
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Frequently Asked Questions
What is supplier management analytics
Supplier management analytics is the systematic process of gathering, categorizing and analyzing supplier and procurement data from various sources, including ERPs and SRM software. This data is then converted into actionable insights, typically presented through visualization dashboards or business intelligence tools, to efficiently inform your professionals and better support company objectives.
What are the typical types of analysis?
Supplier management analytics is crucial for procurement professionals, driven by the need to understand historical performance and better inform future decisions. There are typically four key types of analysis: Descriptive Analytics examines past supplier and procurement data to outline what has already occurred. Building on this; Diagnostic Analytics interprets this same data to uncover the underlying reasons behind past events. Looking to the future, Predictive Analytics leverages data trends and patterns to forecast how suppliers might perform, while Prescriptive Analytics goes a step further by using these predictive models to guide and improve future decision-making.