This webinar will explore the types of problems and questions faced by procurement executives that can benefit most through the application of analytical solutions (e.g. innovation, strategic cost management, risk mitigation, etc.). In addition, we will cover the different forms of cognitive solutions that are emerging to drive real-time decision-making and predictive sourcing capabilities.
Supplier Procurement Analytics powered by PMSquarePM square
Supplier Procurement Analytics solution powered by PMSquare assists procurement and finance departments lower costs. The solution provides detailed analytics to identify enterprise spend, transaction costs and how to better manage your suppliers
The document discusses the use of procurement analytics. It begins by explaining what procurement analytics is and why organizations should use it. Analytics can increase demand forecasting accuracy and contract negotiation power. The document then discusses how analytics can be applied in areas like vendor evaluation, spend analysis, and demand forecasting. It also outlines challenges to implementation and provides recommendations for next steps like gaining leadership support, collaborating cross-functionally, developing skills, and integrating systems.
BRIDGEi2i has frameworks to establish Analytics CoE for Supply Chain functions within organizations. Demand planning solution of BRIDGEi2i aims at using advanced statistical forecasting coupled with real-time decision engines models for demand planning, inventory optimization.
The document describes steps in a New IT Innovation Development (N.IT.I.D.) method being applied to a case study of TripAdvisor. It discusses evaluating solutions proposed in earlier steps by linking ideas to key performance indicators in a Quality Function Deployment matrix. The most relevant ideas are engaging customers and facilitating the review process, but further analysis is needed to determine what should be implemented.
predictive analysis and usage in procurement ppt 2017Prashant Bhatmule
Predictive analytics can help reduce volatility and improve decision making in procurement processes. It allows understanding of future costs, demand, and supply to overcome challenges. Predictive models analyze past data and behaviors to forecast trends and outcomes. As data sources like IoT sensors expand, predictive analytics is increasingly used for applications like manufacturing process improvement, predictive maintenance of equipment, and optimizing building energy usage.
This document discusses conducting market research and analysis to evaluate the feasibility of bringing a new product or service to market. It outlines several key areas of focus for market research, including market entry strategies, competitive landscape analysis, customer insights, and market sizing and segmentation. Examples of market data that could be collected are also provided, such as information on industries, competitors, products, customer support, and testing. The overall goal of the research is to inform strategic planning and market entry decisions.
This document provides an overview of spend management and procurement software. It discusses features like spend analysis, supplier management, sourcing, invoicing and payment, e-procurement, and contract compliance. Spend analysis involves gathering spending data from multiple sources, categorizing spend, standardizing items, and establishing contracts. The document uses an example of a global pharmaceutical company to show how spend analysis can identify savings opportunities between 15-50% through implementing sourcing best practices and reducing buyer/supplier administration by up to 80%.
S2 p strategic opportunity-s2p-implementation-0113-1Dr Gordon Murray
Addressing S2P (Source-to-Pay) is necessary for organisations today in order to reduce transaction costs, but that alone is not enough to drive real cost reduction and bottom line profitability. To derive the maximum benefit, organisations need to seize the opportunity created by the disruption of a S2P implementation to radically transform the way in which procurement is carried out throughout the organisation. This paper provides suggestions on how to make the most of the opportunity created by S2P implementation and makes recommendations on how to maximise the benefits,
Supplier Procurement Analytics powered by PMSquarePM square
Supplier Procurement Analytics solution powered by PMSquare assists procurement and finance departments lower costs. The solution provides detailed analytics to identify enterprise spend, transaction costs and how to better manage your suppliers
The document discusses the use of procurement analytics. It begins by explaining what procurement analytics is and why organizations should use it. Analytics can increase demand forecasting accuracy and contract negotiation power. The document then discusses how analytics can be applied in areas like vendor evaluation, spend analysis, and demand forecasting. It also outlines challenges to implementation and provides recommendations for next steps like gaining leadership support, collaborating cross-functionally, developing skills, and integrating systems.
BRIDGEi2i has frameworks to establish Analytics CoE for Supply Chain functions within organizations. Demand planning solution of BRIDGEi2i aims at using advanced statistical forecasting coupled with real-time decision engines models for demand planning, inventory optimization.
The document describes steps in a New IT Innovation Development (N.IT.I.D.) method being applied to a case study of TripAdvisor. It discusses evaluating solutions proposed in earlier steps by linking ideas to key performance indicators in a Quality Function Deployment matrix. The most relevant ideas are engaging customers and facilitating the review process, but further analysis is needed to determine what should be implemented.
predictive analysis and usage in procurement ppt 2017Prashant Bhatmule
Predictive analytics can help reduce volatility and improve decision making in procurement processes. It allows understanding of future costs, demand, and supply to overcome challenges. Predictive models analyze past data and behaviors to forecast trends and outcomes. As data sources like IoT sensors expand, predictive analytics is increasingly used for applications like manufacturing process improvement, predictive maintenance of equipment, and optimizing building energy usage.
This document discusses conducting market research and analysis to evaluate the feasibility of bringing a new product or service to market. It outlines several key areas of focus for market research, including market entry strategies, competitive landscape analysis, customer insights, and market sizing and segmentation. Examples of market data that could be collected are also provided, such as information on industries, competitors, products, customer support, and testing. The overall goal of the research is to inform strategic planning and market entry decisions.
This document provides an overview of spend management and procurement software. It discusses features like spend analysis, supplier management, sourcing, invoicing and payment, e-procurement, and contract compliance. Spend analysis involves gathering spending data from multiple sources, categorizing spend, standardizing items, and establishing contracts. The document uses an example of a global pharmaceutical company to show how spend analysis can identify savings opportunities between 15-50% through implementing sourcing best practices and reducing buyer/supplier administration by up to 80%.
S2 p strategic opportunity-s2p-implementation-0113-1Dr Gordon Murray
Addressing S2P (Source-to-Pay) is necessary for organisations today in order to reduce transaction costs, but that alone is not enough to drive real cost reduction and bottom line profitability. To derive the maximum benefit, organisations need to seize the opportunity created by the disruption of a S2P implementation to radically transform the way in which procurement is carried out throughout the organisation. This paper provides suggestions on how to make the most of the opportunity created by S2P implementation and makes recommendations on how to maximise the benefits,
The document discusses competitive intelligence gathering and provides a framework for understanding it. It defines competitive intelligence as business information used to manage risks from internal and external forces. The framework includes situational, organizational, and information dimensions to guide intelligence needs, sources, use, and results. It outlines the intelligence process of defining needs, collecting data, analyzing, disseminating, and reviewing. Various tools and techniques are also described like competitor analysis, market intelligence, and environmental assessment to support decision making. Finally, it discusses risks, opportunities, and developing an action plan to implement competitive intelligence.
The document discusses SAP Analytics for procurement. It describes how procurement and supply chain organizations are under pressure to reduce expenses and proactively manage supplier risk through continuous supplier and spend intelligence reporting. However, supplier data often requires de-duplication, normalization and enrichment before it can provide useful insights. SAP solutions partner with third-party data providers to empower procurement, finance and supply chain users with supplier and spend analytics capabilities. The document then outlines key components of SAP's offering including data enrichment and classification, spend performance management, and best practices.
By reducing your net working capital, you release funds for investments and new growth opportunities. Beyond these effects, by reducing net working capital you also improve logistics processes, profitability and increase your stakeholders’ enterprise value.
This document summarizes the key findings of a 2014 supply chain planning benchmark study that surveyed over 300 supply chain professionals across industries. The study found that few companies have highly integrated planning environments, and many see opportunities to improve areas like forecast accuracy, sales and operations planning processes, and integration of planning and execution. Companies reported using a variety of planning modules and technologies, with demand planning being most common. The study also found that companies have a range of approaches to planning technology from ERP-dominated to best-of-breed solutions. Most see changes coming to accelerate planning cycles and globalize the planning function.
The document discusses innovation in business and defines it as the implementation of new ideas to create value through problem resolution or opportunity creation. It then outlines several emerging disruptive technologies in supply chain management like IoT, driverless vehicles, drones, 3D printing, and artificial intelligence. Finally, it discusses trends in smart manufacturing and supply chains that are being driven by these new technologies.
The document discusses building a spend analysis program to analyze an organization's expenditures. It defines spend analysis and why organizations perform it. Key activities in building a program include collecting and normalizing data from various sources, analyzing spending patterns, and identifying opportunities. Challenges include overcoming organizational barriers, issues with inconsistent and incomplete data, and developing repeatable processes. Lessons learned emphasize securing support, planning adequately, starting small and achieving early wins to demonstrate value.
- Understanding Demand Management Basics
- Planning a Demand Management Process
- Execution of Demand Management
- Conducting a Performance Review of your Demand Management Process (and KPIs)
This paper provides lessons on how leaders can enable procurement change within their organization. It identifies seven key obstacles that tend to arise within the firm, and provides suggestions and examples on how these can be tackled.
The document discusses opportunities for improving spend and contract management through various strategies and tools. It identifies challenges with traditional approaches and highlights best practices such as electronic transactions, visibility into contracts and suppliers, and improved spend data capture. Specific areas covered include enterprise spend analysis, contract lifecycle management, data management, electronic invoice processing, and deployment considerations. The key is taking a holistic approach through continuous improvement, stakeholder engagement, and driving initiatives to reduce expenses and deliver value.
This presentation was about the Supply Chain Strategy project assigned by my lecturer, who was the Supply Chain Manager at Norsk Titanium. The strategy we proposed was to outsource all part components from single supplier in order to protect our intellectual property while taking advantage of cost efficiency and capacity. Then we would contract with the 3PL to ship out to customers, with the responsibility in packaging and inspecting the final products. We also used ERP system, RFID Tag, Kanban.
The document discusses implementing lean six sigma principles and eProcurement/strategic sourcing in a heavy machinery industry's MRO environment. It outlines the implementation highlights, including a focus on change management over technology. Benefits achieved included reduced costs, improved compliance, and faster processing times. The strategic sourcing roadmap included spend analysis, supplier evaluation, contracting, and an eProcurement system to streamline the procure-to-pay process. Key success factors included cross-functional involvement, standardization, and benefits realization monitoring.
The document summarizes a seminar on supply chain planning theory and best practices. It includes an agenda for the event covering topics like demand planning, replenishment planning, production planning, buffer stocks, and industry trends. Recent trends discussed include increased collaboration across supply chain partners and a movement toward centralized planning over decentralized approaches. The presentation aims to explain key supply chain planning concepts and challenges through case studies and examples.
Innovative Procurement Strategies for Thriving in a Networked EconomySAP Ariba
Building an agile procurement organization requires a focus on value, performance and capabilities.
Presented by Amy Fong – Senior Director, Procurement Executive Advisory - The Hackett Group
The document discusses world-class procurement strategies and processes. It outlines key elements like defining requirements, strategic sourcing, spending analysis, and establishing efficient procurement operations. Effective strategic sourcing requires analyzing spending, consolidating data, identifying savings opportunities, and managing procurement and payment processes on a global scale. Continuous improvement relies on developing long and short-term plans with measurable goals and action steps to achieve procurement objectives.
Supplier Relationship and Value Management The five programme killers, and ho...Tejari
At the program level, David Atkinson, MD of consultants Four Pillars, provides a model for developing your organization’s supplier management strategy by introducing the five critical questions that will mean the difference between failure and success. For each of these questions, answers are provided that will get you thinking about how you will make Supplier Relationship and Value Management work for your organization.
The document discusses various aspects of vendor management including governance, performance evaluation, monitoring, and strategic partnership. It provides details on developing vendor profiles, assessing risks, establishing governance disciplines, evaluating quality and performance, linking key performance indicators to business benefits, monitoring through scorecards and metrics, and fostering strategic partnerships through mutual goals and trust.
Bid to Win workshop for Seedbed - October 2015Matt Spry
If your business is supplying services or products to other organisations, and you want to grow, it is almost certain that you will have to navigate the minefield of tendering for new work. When done well successful bidding can help to scale your financial performance and impact quickly, but done badly and you risk wasting huge amounts of time and money.
The Bid to Win masterclass will give you:
- an introduction to bidding
- key principles for bidding to win
- an approach to bidding that can be applied to any sector or opportunity - the bid canvas
The aim of the session was to introduce attendees to a flexible and powerful approach to bidding that will keep your bids focused on what really matters to the buyer, whilst helping to manage the risks inherent in the tendering process.
Generating insights in a hyperconnected and data riven worldCourse5i
The document discusses how data and analytics have become a new source of competitive advantage. It notes that the C-suite is demanding more business results from insights like customer growth, revenue growth, and share growth. However, research teams often struggle to deliver real-time data and insights, provide a future view, and increase business impact due to limited delivery systems, data silos, and a tactical mindset. The document outlines seven critical steps for research teams, which include cultivating a growth mindset, observing rather than just asking, synthesizing data, democratizing data access, disaggregating the value chain, evolving industry business models, and rethinking skill sets to focus more on business outcomes and consultancy.
Penny wise procurement strategies-long-term-effectiveness-short-term-wins 1012-1Dr Gordon Murray
Discusses the concept of ‘short-term financial gains’
at the cost of ‘long-term sustainability’. The premise is that there is a need to avoid short-term procurement strategies during financial crises, which could compromise long-term success. The paper’s central theme is built around the popular management model Porter’s 5 Forces, and we correlate the theories in this model to the real world challenges of procurement and how they can provide a long-term cost efficient solution.
Nitai Partners provides value-added Oracle Business Analytics and Endeca implementation services to maximize revenues, efficiency, and business value. They offer rapid implementation of various Oracle products including OBIEE, Endeca, procurement and spend analytics dashboards. Nitai Partners guarantees a successful deployment and implementation with specialized expertise in all Oracle Business Analytics modules.
Expert data analytics prove to be highly transformative when applied in context to corporate business strategies.
This webinar covers various approaches and strategies that will give you a detailed insight into planning and executing your Data Analytics projects.
This document discusses business analytics and data analytics capabilities. It covers key concepts like data warehouses, data marts, ETL processes, business intelligence, data mining techniques, and how organizations can use analytics to gain insights from data to support decision making and gain a competitive advantage. The document provides examples of how companies like IHG and retailers use analytics to improve operations and customer understanding.
The document discusses competitive intelligence gathering and provides a framework for understanding it. It defines competitive intelligence as business information used to manage risks from internal and external forces. The framework includes situational, organizational, and information dimensions to guide intelligence needs, sources, use, and results. It outlines the intelligence process of defining needs, collecting data, analyzing, disseminating, and reviewing. Various tools and techniques are also described like competitor analysis, market intelligence, and environmental assessment to support decision making. Finally, it discusses risks, opportunities, and developing an action plan to implement competitive intelligence.
The document discusses SAP Analytics for procurement. It describes how procurement and supply chain organizations are under pressure to reduce expenses and proactively manage supplier risk through continuous supplier and spend intelligence reporting. However, supplier data often requires de-duplication, normalization and enrichment before it can provide useful insights. SAP solutions partner with third-party data providers to empower procurement, finance and supply chain users with supplier and spend analytics capabilities. The document then outlines key components of SAP's offering including data enrichment and classification, spend performance management, and best practices.
By reducing your net working capital, you release funds for investments and new growth opportunities. Beyond these effects, by reducing net working capital you also improve logistics processes, profitability and increase your stakeholders’ enterprise value.
This document summarizes the key findings of a 2014 supply chain planning benchmark study that surveyed over 300 supply chain professionals across industries. The study found that few companies have highly integrated planning environments, and many see opportunities to improve areas like forecast accuracy, sales and operations planning processes, and integration of planning and execution. Companies reported using a variety of planning modules and technologies, with demand planning being most common. The study also found that companies have a range of approaches to planning technology from ERP-dominated to best-of-breed solutions. Most see changes coming to accelerate planning cycles and globalize the planning function.
The document discusses innovation in business and defines it as the implementation of new ideas to create value through problem resolution or opportunity creation. It then outlines several emerging disruptive technologies in supply chain management like IoT, driverless vehicles, drones, 3D printing, and artificial intelligence. Finally, it discusses trends in smart manufacturing and supply chains that are being driven by these new technologies.
The document discusses building a spend analysis program to analyze an organization's expenditures. It defines spend analysis and why organizations perform it. Key activities in building a program include collecting and normalizing data from various sources, analyzing spending patterns, and identifying opportunities. Challenges include overcoming organizational barriers, issues with inconsistent and incomplete data, and developing repeatable processes. Lessons learned emphasize securing support, planning adequately, starting small and achieving early wins to demonstrate value.
- Understanding Demand Management Basics
- Planning a Demand Management Process
- Execution of Demand Management
- Conducting a Performance Review of your Demand Management Process (and KPIs)
This paper provides lessons on how leaders can enable procurement change within their organization. It identifies seven key obstacles that tend to arise within the firm, and provides suggestions and examples on how these can be tackled.
The document discusses opportunities for improving spend and contract management through various strategies and tools. It identifies challenges with traditional approaches and highlights best practices such as electronic transactions, visibility into contracts and suppliers, and improved spend data capture. Specific areas covered include enterprise spend analysis, contract lifecycle management, data management, electronic invoice processing, and deployment considerations. The key is taking a holistic approach through continuous improvement, stakeholder engagement, and driving initiatives to reduce expenses and deliver value.
This presentation was about the Supply Chain Strategy project assigned by my lecturer, who was the Supply Chain Manager at Norsk Titanium. The strategy we proposed was to outsource all part components from single supplier in order to protect our intellectual property while taking advantage of cost efficiency and capacity. Then we would contract with the 3PL to ship out to customers, with the responsibility in packaging and inspecting the final products. We also used ERP system, RFID Tag, Kanban.
The document discusses implementing lean six sigma principles and eProcurement/strategic sourcing in a heavy machinery industry's MRO environment. It outlines the implementation highlights, including a focus on change management over technology. Benefits achieved included reduced costs, improved compliance, and faster processing times. The strategic sourcing roadmap included spend analysis, supplier evaluation, contracting, and an eProcurement system to streamline the procure-to-pay process. Key success factors included cross-functional involvement, standardization, and benefits realization monitoring.
The document summarizes a seminar on supply chain planning theory and best practices. It includes an agenda for the event covering topics like demand planning, replenishment planning, production planning, buffer stocks, and industry trends. Recent trends discussed include increased collaboration across supply chain partners and a movement toward centralized planning over decentralized approaches. The presentation aims to explain key supply chain planning concepts and challenges through case studies and examples.
Innovative Procurement Strategies for Thriving in a Networked EconomySAP Ariba
Building an agile procurement organization requires a focus on value, performance and capabilities.
Presented by Amy Fong – Senior Director, Procurement Executive Advisory - The Hackett Group
The document discusses world-class procurement strategies and processes. It outlines key elements like defining requirements, strategic sourcing, spending analysis, and establishing efficient procurement operations. Effective strategic sourcing requires analyzing spending, consolidating data, identifying savings opportunities, and managing procurement and payment processes on a global scale. Continuous improvement relies on developing long and short-term plans with measurable goals and action steps to achieve procurement objectives.
Supplier Relationship and Value Management The five programme killers, and ho...Tejari
At the program level, David Atkinson, MD of consultants Four Pillars, provides a model for developing your organization’s supplier management strategy by introducing the five critical questions that will mean the difference between failure and success. For each of these questions, answers are provided that will get you thinking about how you will make Supplier Relationship and Value Management work for your organization.
The document discusses various aspects of vendor management including governance, performance evaluation, monitoring, and strategic partnership. It provides details on developing vendor profiles, assessing risks, establishing governance disciplines, evaluating quality and performance, linking key performance indicators to business benefits, monitoring through scorecards and metrics, and fostering strategic partnerships through mutual goals and trust.
Bid to Win workshop for Seedbed - October 2015Matt Spry
If your business is supplying services or products to other organisations, and you want to grow, it is almost certain that you will have to navigate the minefield of tendering for new work. When done well successful bidding can help to scale your financial performance and impact quickly, but done badly and you risk wasting huge amounts of time and money.
The Bid to Win masterclass will give you:
- an introduction to bidding
- key principles for bidding to win
- an approach to bidding that can be applied to any sector or opportunity - the bid canvas
The aim of the session was to introduce attendees to a flexible and powerful approach to bidding that will keep your bids focused on what really matters to the buyer, whilst helping to manage the risks inherent in the tendering process.
Generating insights in a hyperconnected and data riven worldCourse5i
The document discusses how data and analytics have become a new source of competitive advantage. It notes that the C-suite is demanding more business results from insights like customer growth, revenue growth, and share growth. However, research teams often struggle to deliver real-time data and insights, provide a future view, and increase business impact due to limited delivery systems, data silos, and a tactical mindset. The document outlines seven critical steps for research teams, which include cultivating a growth mindset, observing rather than just asking, synthesizing data, democratizing data access, disaggregating the value chain, evolving industry business models, and rethinking skill sets to focus more on business outcomes and consultancy.
Penny wise procurement strategies-long-term-effectiveness-short-term-wins 1012-1Dr Gordon Murray
Discusses the concept of ‘short-term financial gains’
at the cost of ‘long-term sustainability’. The premise is that there is a need to avoid short-term procurement strategies during financial crises, which could compromise long-term success. The paper’s central theme is built around the popular management model Porter’s 5 Forces, and we correlate the theories in this model to the real world challenges of procurement and how they can provide a long-term cost efficient solution.
Nitai Partners provides value-added Oracle Business Analytics and Endeca implementation services to maximize revenues, efficiency, and business value. They offer rapid implementation of various Oracle products including OBIEE, Endeca, procurement and spend analytics dashboards. Nitai Partners guarantees a successful deployment and implementation with specialized expertise in all Oracle Business Analytics modules.
Expert data analytics prove to be highly transformative when applied in context to corporate business strategies.
This webinar covers various approaches and strategies that will give you a detailed insight into planning and executing your Data Analytics projects.
This document discusses business analytics and data analytics capabilities. It covers key concepts like data warehouses, data marts, ETL processes, business intelligence, data mining techniques, and how organizations can use analytics to gain insights from data to support decision making and gain a competitive advantage. The document provides examples of how companies like IHG and retailers use analytics to improve operations and customer understanding.
1) While some organizations measure the value of their data assets, most do not properly quantify, measure benefits, or inventory their data. Data is increasingly becoming a key asset but many organizations are focused on storage and access rather than business value.
2) There are various techniques to estimate the value of data including Delphi method, scorecards, statistical methods, and information markets. Quantifying value helps with competitive advantage, M&A valuations, and justifying security expenses.
3) APIs can increase data value by allowing access to third party data and enabling experimentation through external partners and developers. The purpose, type of access, and process accessed (data vs services) determine the API strategy around exploitation, public
1) There is a growing gap in capabilities and performance between companies that invest heavily in data and analytics compared to those that invest less. The capability gap is exacerbated by a shortage of analytical talent.
2) The amount of data being created is growing exponentially, estimated at 2.5 quintillion bytes per day globally. However, most organizations are not effectively using the data they already have.
3) Investing in analytics can provide significant financial benefits across industries. For example, leveraging big data in healthcare could capture $300 billion annually and increase retailers' operating margins by 60%.
Enabling data scientists within an enterprise requires a well-thought out approach from an organization, technology, and business results perspective. In this talk, Tim and Hussain will share common pitfalls to data science enablement in the enterprise and provide their recommendations to avoid them. Taking an example, actionable use case from the financial services industry, they will focus on how Anaconda plays a pivotal role in setting up big data infrastructure, integrating data science experimentation and production environments, and deploying insights to production. Along the way, they will highlight opportunities for leveraging open source and unleashing data science teams while meeting regulatory and compliance challenges.
Advanced Project Data Analytics for Improved Project DeliveryMark Constable
Data Analytics is already beginning to impact how projects are delivered. We can now automate minute taking and capturing actions, we can use Flow to progress chase, Power BI reduces the burden of reporting.
But we are just scratching the surface. It won’t be long before we can leverage the rich dataset of experience to predict what risks are likely to occur, understand which WBS elements will be susceptible to variance, deduce what the optimum resource profile looks like, define a schedule by leveraging data from those projects that have gone before.
The role of a project professional is about to change dramatically. In this webinar we will explore the challenges and opportunities, and how we should respond. It’s a call-to-action for the community to mobilise, help to reshape project delivery and understand the implications for you and your organisation.
Presenter Martin Paver is a Chartered Project Professional, APM Fellow and Chartered Engineer. In December 2017 he established the London Project Data Analytics meetup which has quickly spread across the UK and expanded to 3000+ members. Martin has major project experience including leading a $billion projects with a team of 220 and a multi-billion PMO with a team of 50. He has a detailed grasp of project management and combines this with a broad understanding of recent developments in the field of data science. He is on a mission to ensure that the project management profession readies itself for a transformed future.
Learning outcomes:
- Understand the implications of advanced data analytics on project delivery
- Understand the scope of which functions it is likely to impact
- Help you to develop a strategy for how you engage with it
- Understand how to leverage the benefits and opportunities that will emerge from it
Presenter:
Martin Paver, CEO & Founder, Projecting Success Ltd
Building a Complete View Across the Customer Experience on Oracle BICSShiv Bharti
This document provides an overview and agenda for a presentation on building a 360-degree view of customers. It discusses the challenges of customer blind spots due to disparate data sources and considerations for eliminating blind spots such as data quality, standardization, and building a single customer view. The presentation will demonstrate Perficient's pre-built marketing analytics solution on the Oracle Business Intelligence Cloud Service and cover best practices for cloud business intelligence.
Strategy Basecamp's IT Diagnostic - Six Steps to Improving Your TechnologyPaul Osterberg
This document discusses leveraging technology for profitable growth. It provides examples of how top performing firms use technology differently and more effectively than other firms to increase productivity, revenue, and profits. A six-step process is outlined for firms to improve their technology value through benchmarking IT spending, assessing their current state, identifying strengths/weaknesses, optimizing tools and vendors, training staff, and creating an action plan. Case studies demonstrate how the process has helped firms with vendor selection, system integration, and strategic planning.
“How P2P Fits Within an Enterprise Supply Chain” is the second topic of a supply chain learning series presented by ScottMadden and Shared Services & Outsourcing Network (SSON).
Accounts Payable (AP) has proven to be extremely effective in a shared services model but efficiencies are largely dependent on upstream supply chain processes. When leading shared services operations look for performance improvements or cost reductions in AP, they are forced to evaluate the entire P2P process to identify savings opportunities. “How P2P Fits Within an Enterprise Supply Chain” is the second topic of a supply chain learning series presented by ScottMadden and Shared Services & Outsourcing Network (SSON). In this session, we focus on the key attributes of a successful P2P transformation and the role technology plays in enabling the capture of the synergies and savings associated with P2P in a shared services delivery model.
The document discusses several key challenges in adopting predictive analytics in healthcare:
1) Lack of quality data due to incomplete, inconsistent, or non-standardized data from different sources.
2) Difficulty incorporating analytics into clinical workflows and ensuring usability for clinicians.
3) Privacy concerns around sharing and integrating patient data from different organizations.
4) Need for interdisciplinary teams including data scientists, clinicians, and other stakeholders to design effective predictive solutions.
Are you getting the most out of your data?SAS Canada
Data is an organizations most valuable asset, but raw data by itself has little value. To drive data’s worth, it must be managed and processed to extract value and information that decision makers can leverage and turn into actionable insights. It is the ways in which a company choses to put that information to use that will determine the true value of its data.
Through business intelligence and business analytic tools, businesses are enabling themselves to make more strategic, accurate decisions, while optimizing business processes. Hear from Info-Tech Research Group and learn what you need to consider when choosing an analytics solution provider. The webinar will highlight Info-Tech Research Group’s recently published vendor landscape for selecting and implementing Business Intelligence and Business Analytics solutions. The report positions SAS as the only leader across all four categories of Enterprise BI, Mid-Market BI, Enterprise BA and Mid-Market BA.
Oracle is a leading technology company focused on database software and cloud computing. It generates revenue from software licenses and cloud services. While Oracle faces competition from other large tech companies, its strengths include consulting services, global sales channels, and expertise in data storage and applications. The rise of big data presents both opportunities and challenges for Oracle to leverage new types and volumes of customer information through its products.
The document discusses how analytics can deliver value for manufacturing companies. It outlines how analytics can help answer critical business questions related to sales, products, inventory, customers, and more. Analytics provides insights by combining internal company data with external data sources like demographics. This allows companies to gain a more complete view of their business and customers. The document then provides examples of how one company, Team Computers, has helped other manufacturers like Parle Products implement analytics solutions to improve visibility, decision making, and business performance.
Big data comes from a variety of sources and in different formats. It is characterized by its volume, velocity, and variety. Organizations are using big data to gain business insights through analytics. This allows them to increase revenue, reduce costs, optimize processes, and manage risks. Examples of big data uses include marketing campaign analysis, customer segmentation, and fraud detection. Companies must overcome technological and organizational challenges to successfully leverage big data.
In the recent past, we have learnt that data is the lifeline of any business and it is really important to collect data, more and more of it. But no one is telling us what to do with large volumes of data.
Shailendra has successfully delivered over One Billion Dollars in incremental value and will spend 30 minutes in showcasing how many large organisations are using data to their advantage by creating value through generating incremental revenue and optimising costs using analytics techniques.
Key Takeaways:
(i) Demystify the myths of analytics
(ii) Walkthrough a step-by-step approach to delivering successful projects that created an incremental value of hundreds and millions of dollars.
(iii) Three use cases where large organisations are using analytics to their advantage by creating value by generating incremental revenue and optimising costs.
[DSC Europe 22] The Making of a Data Organization - Denys HolovatyiDataScienceConferenc1
Data teams often struggle to deliver value. KPIs, data pipelines, or ML driven predictions aren't inherently useful - unless the data team enables the business to use them. Having worked on 37 data projects over the past 5 years, with total client revenue clocking at about $350B, I started noticing simple success factors - and summarized those in the Operating Model Canvas & the Value Delivery Process. With those, I branched out into what I call data organization consulting and help clients build their data teams for success, the one you see not only on paper but also in your P&L. In this talk, I'll share some insight with you.
The document discusses the growing importance and opportunities of analytics for businesses. It notes that there is a widening performance gap between top performers and bottom performers in their use of data and analytics. While the amount of data is growing exponentially, there is also a significant skills gap in having enough talent to effectively analyze and use data. The document outlines several major themes where businesses are applying analytics, including customer insights, risk management, operations, and product design. It argues that analytics can drive significant business value when integrated into operations and transformations.
Similar to Innovative Data Leveraging for Procurement Analytics (20)
Most procurement plans establish targets to be delivered over a number of years, and indeed most of the effort in the current year will not achieve maximum returns until future years Procurement. But there is still a target to deliver this year, and due to unforeseen circumstances you many need find benefits that will count towards this year’s targets.
As organizations move to an environment characterized by cloud computing, the Internet of things, distributed computing, and mobile applications, it will be important to understand where and how these technologies can create value and support procurement decision-making.
Two Case Studies that Unlocked Invisible Value Where Cost Price was a Lower L...Tejari
This webinar will look at 2 case studies that bring to life the reality and factual nature of improved business outcomes that have been masterly performed by procurement colleagues. We talk about ‘new value’ and sometimes it’s hard to visualize or imagine yourself in the picture of delivering these new value elements.
Case studies make it real and in many cases much better understood. Craig’s practical experiences bring these hard-to-visualize outcomes to life.
As he often does, he has a new procurement tool to show us that will turn someone else’s case study into your reality.
Achieving Strategic Alignment for Procurement With the Board…in just 3 pagesTejari
This webinar will deal with the myth that setting strategy is very complicated and is only achievable by the planet’s smartest minds.
We have too long held the view that we are mere mortals and that the ability to create a strategy is beyond us — we should just accept our mediocrity and leave strategy creation to the boardroom.
Craig will take down this perceived giant by breaking it down into its logical component parts. And … do it in just 3 pages!
To fully exploit and create an analytics culture will require an approach that leverages third party solutions. Most innovation is driven today by small to medium sized organizations. To be fully able to drive innovation, procurement must serve as a key component in driving this change.
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- Why do we actually do contract management?
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- What is Procurement Transformation?
- Launching a Transformation Initiative
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- Spend Analysis and Managing Categories
- Identifying Actions
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Welcome to the webinar
3. Rob Handfield
Bank of America University Distinguished Professor of Supply
Chain Management | Poole College of Management,
North Carolina State University
4. Agenda
The Evolution of Analytics
Why are Analytics so Challenging
“Innovative Data Leveraging”
Step 1: Engaging for Business Insight
Step 2: Constructing the research question
Step 3: Building the analytic platform
Case Study Examples
Predictions about Predictive Analytics!
Q&A
5. Elements of S2P - Spend Analytic
Interviewed 24 CPO’s / Senior Directors on a series of calls
Conducted interviews with multiple subject matter experts
Reviewed primary & secondary research
Analyzed written transcripts of documents and compared
maturity levels (Early, Emerging, and Advanced) with level
of analytics activity and procurement systems deployment
to identify trends
6. Who we interviewed… and their stage of procurement
transformation
Industry Early Emerging Mature
Oil and Gas / Utilitie 2 2 2
Financial Service 3 3 1
Manufacturing/ Life
Sciences/ Other
1 2 8
24
7. Evolution of Analytics
How can our organization
convert “data exhaust” into
business insights that drive
improved outcomes?
‘50’s – 2000
- Descriptive analytics
- Structured internal data analysis
- Application: Internal Decision Support
- Tools: Mainframe reports, spreadsheets
- Emergence of SAS and SPSS
- STRUCTURED DATABASES
2000 - 2010
- External consumer data on consumption
- Unstructured genomic information (Internet)
- Applications: - Social media, consumer marketing
- Tools: Object oriented databases,
- Emergence of Data Scientists, Facebook, LinkedIn
- BIG ANALYTICS - SMALL MATH
2010 -
- Multiple data sources
- Real-time data
- Spatial visualization
- Applications:
- Supply chain
- Weather
- Risk, etc.
EXPLOITING DATA FOR
BUSINESS DECISIONS
8. Procurement is at an inflection
point where the old “bag of tricks”
no longer works. Opportunity for
savings through leveraging of spend
have been depleted?
Analytics represents the next wave
of opportunity.
Supply chain innovation is on the
horizon.
A new set of procurement tools enabled by analytical innovation is required!
INFLECTION POINT
Current and Future State of Procurement
9. CPO Tenure and Spend Under Management
Average Tenure of CPO (Years) Spend Under Management
10. Typical IT / SCM Disconnect
IT “doesn’t get it,
they are “old school”
IT knows how to store
things, but can’t build
an analytics platform
We can’t rely on IT – need
to build it ourselves for our
business!
The business has no data
standards and multiple
legacy systems.
Managers want it all –
but can’t tell us succinctly
what data they really need.
We are understaffed,
and can’t take time for this.
We are running a major
ERP implementation.
Manager IT Group
11. Is There A Relationship Between Transformation
and Systems Capabilities?
“Which came first…..?”
1. Establishing stakeholder confidence will
lead to a business case for investment
in systems…
2. Improved systems drives more reliable
data that provides the basis for additional
insights and engagement…
Engaging with stakeholders
to have the right conversations
Building credible data to the table
Making a solid business case
for the enterprise
Cleansed Master Data
Spend Analysis
Contract management systems
Risk metrics
Supplier Life Cycle Systems
Procurement Transformation Investment in Systems Capabilities
12. Working as Business Partners
We want to understand the business
and what their needs are.
Can we build solutions that allow
people to generate their own
reports and scenarios?
Can we leverage this to build
transparency across other groups?
We want to partner with our
IT team and build it together.
We need to think through what
we are asking for carefully before
we go to IT and ask for help.
What is the return on this
project?
Manager IT Group
Aggregation Isolation Visualization
13. Recurring Theme: Predictive Analytics
Every executive we interviewed was seeking to create customized analytical
insights that leverages existing databases and data, along with other databases
and information not contained in their internal corporate procurement or ERP
systems (“mash-ups”)
The key to building stakeholder value and insight:
“Innovation data leveraging”
Innovative Data Leveraging (IDL) is defined as a fact-based, data-driven approach
to driving change and influencing stakeholders to create procurement value for
the business.
14. Growth of Supply Chain Analytics Investments
Source: Global Logistics Trends and Strategies, Handfield et al., 2013, published by BVL International.
15. Innovative Data Leveraging builds on increasingly
higher levels of data
It is important to have meaningful data – but what you do with it is the issue.
Can you form insights that are actionable? That is the real question!
17. Stakeholders are the Source of Business Issues -
Having the Right Conversation Leads to the Right
Question & Guides Data Collection
Stakeholder Send Analytics Price and Cost Model Contract Management
Marketing
and Sales
• Local content requirements
• Minority & Diverse Supply
spending
• Addition of new features and
capabilities for specific market
segments
• Economic impact of local
spending for regulatory agencies
• Cost and technical support on
major RFP/RFQ bids
• Support on pricing for new
product development
• Value analysis with suppliers
• Cost to serve (TCA)
• Supplier suggestion programs
• Supplier ideas for new products
• Guidance on best partners and
alliances in new markets
• Supplier capacity for new product
launches
• Supplier-driven customer
solutions to penetrate markets
Legal • Support Sarbanes Oxley
compliance
• Supplier risk metrics and visibility
• Local economic impact studies
• Contractual obligations
• Avoid predatory pricing
• Price/cost index and renewal
mechanisms
• Code of conduct compliance
• Regulatory Risk exposure
• Liability exposure – no contracts
• IP issues relating to NPD
18. First Things First: Business Problem Statement -
Having the Right Conversation Leads to the Right
Question & Guides Data Collection
Stakeholder Send Analytics Price and Cost Model Contract Management
CFO,
Finance,
and
Accounting
• Opportunity analysis for direct
and indirect cost savings
• Budgeting objectives
• AP - Spend under management
• GL codes linked to spending code
• Working capital targets
• Payment terms
• Should-cost models to reduce
commodity volatility exposure
• Currency risk
• Spend under contract
• Product costing and pricing
• Contract exposure to global risks
• Country level risk exposure
Operations,
Business,
Division
Leader
• Supplier leverage / selection
• Reducing supply leadtime
• Part/component standardization
• Vendor managed inventory
• Supplier capacity issues
• Delivery/quality improvements
• Tariffs/Border delays
• Packaging compliance
• Transportation and Logistics
planning and modeling
• Should-cost targets
• Inventory and material handling
• INCO terms
• Supplier performance
• Avoid “shutting us down”
• Business continuity plans
• Supply disruption mitigation
planning
19. First Things First: Business Problem Statement -
Having the Right Conversation Leads to the Right
Question & Guides Data Collection
Stakeholder Send Analytics Price and Cost Model Contract Management
Engineering,
R&D, Major
Projects
• Emerging substitutes and
threats on product and process
technology
• Value Analysis & Standardisation
• Reducing duplication and parts
proliferation
• Major projects scheduling and
turnarounds
• Should-cost and supplier
cost savings ideas
• Supplier catalogs
• New product development
technology solutions
• Technology / software solutions
• Design for Manufacturability
• Cost downs
• Project risks
• IP Ownership
• Supplier innovation & integration
• Collaboration on project roll-out
and workflow management
23. Most advanced form of analytics is PREDICTIVE ANALYTICS
Predictive analytics is about extracting an analytical model from data, that anticipates
future behavior or estimates unknown outcomes.
By understanding likely future outcomes,
– Organizations are better able to choose different courses of actions (prescriptive analytics)
– Allocate investment to maximize better returns (decision management)
• Identifying the most important spend categories through the use of spend analytics
• Analyzing specific raw materials that are critical for on-going operations and forecast future
demand to facilitate efficient demand management
Demand Forecasting
• Identifying suppliers that provide cost advantages and innovative insights
• Ascertaining the supplier’s ability to sustain the advantage in long-term engagements
• Predicting capability / capacity of supply for future products in the pipeline
Strategic Sourcing
• Identifying suppliers that provide cost advantages and innovative insights
• Ascertaining the supplier’s ability to sustain the advantage in long-term engagements
• Predicting capability / capacity of supply for future products in the pipeline
Evaluate Supply Risk
• Anticipating potential price fluctuations of raw materials and procured services
based on historical data and events
Predict Price Volatility
of Services/Materials
24. Data Needed for Predictive Analytics
Source: Key parameters identified by interviewing 10 Global Procurement Category Managers and from Hackett 2015
25. Five Analytic Predictions
1. Spend Analytics Will Become Real-time and Predictive
(Not Backward Looking and Probabilistic)
2. Incident prediction and workflow management systems
will replace supplier risk monitoring on projects and indirect spending (“What is your
current “kill-shot” node?)
3. Organisations will require a new set of capabilities and will target individuals who
have a combination of analytics and engineering/business capability
4. Corporate responsibility (diversity, environment, labor and human rights) will
become integral to the sourcing process and will require exploiting digital genomes
5. Post-Award Contract Management (SRM) will become the biggest single source of
sustainable cost reduction – and analytics will help managers drive the right level
of supplier development and engagement activity
26. Takeaways
Procurement Analytics are key! Executives are keyed in on building analytics to not
only solve business problems, but as a core business strategy.
Establish stakeholder engagement as a key element to driving innovation and
value for the business.
Lack of a robust Source to Pay integrated solution is the biggest barrier to
creating a data platform for procurement analytics. Investment requires a solid
business case tied to a real set of business issues and challenges.
Analytical insight requires talented procurement analysts to drive customized
solutions that build on existing enterprise systems and platforms
Supplier management can be used to align with the right partners – that drive the
right insights on continuous supplier performance improvements, cost reductions,
and innovation.
Suppliers are a core element of your integrated solution. Intelligent solutions to
drive collaboration in SRM, deep integration of SLM with all S2P components, and
other approaches are needed.