Procurement
The procurement team serves its customers internally by negotiating costs with the vendors, preparing the contracts, and issuing vendor's purchase orders. Procurement can use advanced analytics for effective contract management, optimizing discounts and forecasting liabilities.
Procurement
- Defect Rate by Supplier
- Analysis of the Defect Type and Defect Rate will offer actionable insights about a supplier’s trustworthiness
- Lead to important business decisions
- Lead Time in Days
- Measure the amount of time between when a supplier receives an order and the time when the order is shipped
- Lead time also confirms vendor availability
- Purchase Order Cycle Time in Hours
- Measure in hours or days from the time a purchase requisition is submitted to the time when it is transmitted to a vendor
- Avoid overspend on wasted purchases or lacking in urgency to stock products
- Compliance Rate by Year
- Analyse the company’s risk management strategy
- Establish programs to consistently and accurately govern the compliance policies over time
- The amount of spend managed by procurement out of total company spend
- Identify sourcing potential and opportunities for savings
- Enhances business profitability, reduces cash leakage and minimizes supplier risk
Manufacturing
- Revenue generated by the top 5 selling products
- Stocking up on raw materials for the top selling items
- Cost optimization for the most sold product
- Production Volume by Machine
- Predict the maintenance period of the machine with a high production volume
- Enhance the capacity of the low productive machines
- The most common manufacturing defects
- Control the losses by identifying the high defect reasons
- Enhance the quality check and workforce to limit such issues
- Overall Downtime
- Downtime by its causes
- Solutions to reduce the downtime by applying predictive analysis
- Asset Turnover trend over a period of time
- See the company’s performance based on the asset turnover for that year
- Plan the asset sales and purchases to increase revenue
Price Optimization
- Satisfied customer
- Retention of customers
- Improving customer loyalty
- Things to implement for maximum customer satisfaction
- Popularity of the product or services
- Growth of organisation over time
- Repeat business
- Customer acquisition rate
- Need of Customer
- Better decision process
- Improvement required region
- Regions where accuracy is achieved
- Customer satisfaction rate
- Year on year growth of Revenue
- Return on investment
- Determining profitability of an expenditure
- Understanding how well your business is doing
- Areas of improvement to achieve the required goal
