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Good data is procurement’s best friend.

Updated: Feb 22, 2023

So why is it that in 2020 most #procurementprofessionals are still data wrangling? Trying to determine their spend by meaningful categories, understand their usage and future demand and provide meaningful performance measures back to the business that provide the necessary #insights and confidence.

Opportunities to improve data can often start with having a #datagovernance framework and a clear procedure in creating items and maintaining your materials master.

Clear data definitions and standards drive consistency, an agreed nomenclature allows deeper analysis across your spend.

Improved #purchasingcontrols so orders are done through purchase orders with a defined product and service catalogue.

Having clear roles and responsibilities in maintaining your data, and a plan that identifies what investment is needed to gain and maintain good data.

There are no shortages of benefits you would be able to include in your business case, including the ability for #performancemangement, driving #accountability,

tracking #benefits, reduction in rework and the progression to #automation and the use of #artificialintelligence.

I'm interested to hear what you've been able to do to move to nirvana?

Need more information? To explore how we can help you maximise your procurement opportunities and cost optimisation objectives, contact us by phone, email or via our social media channels.

- Tracey Shearer, Managing Director


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