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This time, I thought I should give a bit of my thought about how we can use excel in spend analysis
It might have already discussed in business meetings that sourcing Strategy, Category expertise, negotiation methodology, managing supplier relation and procurement execution are all critical components of a highly effective Supply Chain Management initiative and the beginning of these all process starts with spend analysis, so it is the prime tool.
Spend Analysis should be a hot subject of discussion in any Supply Chain Organization because of the importance it has in a decision-making process. Take an example of the hospitality industry; spend analysis plays a prominent role in the procurement function because of the ability a spend analysis report has in helping to understand and to clearly establish expenditure patterns throughout the organization which will eventually enable the Supply Chain practitioners to accurately identify how much ($)…
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