INFORMATION OVERLOADTO PROCUREMENTINTELLIGENCEBIG DATA
IF YOU COULD CAPTURE, MINE,LINK & LOOK FOR PATTERNS INPROCUREMENT DATA …What strategic information would you want?
Strategic procurement advantage• Predict the demand/level of consumption of a good/service and helpprofile demand;• Predict the optimum supplier capability and capacity required todeliver a required outcome in a given situation, and therefore reducepaying for over-capacity;• Identify the costs which could be removed to deliver a given solution;• Predict supplier behaviour and their likely negotiating responses;• Predict the optimum form of contract pricing, for example, fixed price,rise and fall, index linked;• Predict the optimum contract term;• Predict the most advantageous time to go to market;• Predict the optimum period required to solicit the best bid;• Predict the optimum budget and whole life costs;• Identify the key areas to focus on in contract management;• Predict procurement risk profiles and optimum mitigation strategies;• ...
DIGITAL PROCUREMENTSTRATEGYProcurement intelligence for advantage
WHAT WOULD YOU RECOMMENDTO A CPO AS THE 3 PRIORITIES INRESPECT OF DIGITALANDPROCUREMENT?
Recommendations for embracing digitalprocurement strategy1. Ensure your social media policy reflects procurement needs;2. Review you eProcurement investment plans and challenge the business case on theavailability of SaaS platforms;3. Review your Applications Portfolio, ‘As is’ and ‘To be’ to make optimal use of integrationpotential;4. Review your Applications Portfolio for business needs – if a business need exists but asolution is not presently available, issue a challenge to the market design an App;5. Review your use of mobile technology to determine investment plans, establishopportunities for cost reduction and have a clear policy on BOYD;6. Review you approach to flexible working to gain maximum advantage of digitaltechnology;7. Review the potential positive and negative impacts of social media on procurement,develop a proactive plan to use conversations to achieve strategic objectives andmitigate the risk of profile damage;8. Understand what the business needs are for procurement intelligence and develop anintegrated approach to Big Data analytics;9. Complete a training needs analysis and reflect in a learning and development plan;10.Develop a Digital Procurement Strategy and performance manage.
DIGITAL PROCUREMENTSTRATEGYHarnessing the procurement opportunity