Course Overview:
This 5-day course provides procurement professionals with the skills and knowledge needed to leverage analytics and data-driven strategies to optimize procurement processes. Participants will learn how to analyze procurement data, extract actionable insights, and make informed decisions to improve supplier performance, cost efficiency, and risk management. Through practical exercises, case studies, and real-world applications, participants will develop the ability to integrate data analytics into procurement decision-making, contributing to greater operational efficiency and strategic sourcing.
Duration
5 Days
Who Should Attend
- Procurement managers and officers
- Supply chain analysts
- Procurement and supply chain consultants
- Data analysts in procurement
- Supply chain professionals seeking to enhance their data analytics skills
- Professionals involved in strategic sourcing and vendor management
Course Objectives
By the end of this course, participants will be able to:
- Understand the role of analytics in modern procurement strategies.
- Analyze procurement data to enhance supplier performance and cost savings.
- Apply data-driven decision-making to procurement and sourcing activities.
- Utilize procurement KPIs and metrics to measure performance.
- Implement tools and techniques for predictive procurement analytics.
- Identify and mitigate risks using data insights.
- Build data visualization dashboards to monitor procurement performance.
Course Outline:
Module 1: Introduction to Procurement Analytics
- Overview of Procurement Analytics
- Importance of Data in Procurement Decision Making
- Types of Data in Procurement (Spend, Supplier, Risk, etc.)
- Procurement KPIs and Metrics
- Tools and Technologies for Procurement Analytics
Module 2: Data Collection and Management in Procurement
- Sources of Procurement Data
- Data Cleaning and Preparation Techniques
- Structuring Procurement Data for Analysis
- Managing Supplier Data
- Introduction to Data Management Systems (ERP, Procurement Software)
Module 3: Analytical Techniques for Procurement
- Descriptive Analytics for Procurement
- Predictive Analytics in Procurement (Forecasting Trends, Demand Prediction)
- Supplier Performance Analysis
- Cost Analysis and Spend Analytics
- Risk Identification and Management through Data
Module 4: Data Visualization and Reporting
- Introduction to Data Visualization Tools (Tableau, Power BI, Excel)
- Building Procurement Dashboards
- Reporting Procurement Performance Metrics
- Real-time Monitoring of Procurement Activities
- Communicating Insights to Stakeholders
Module 5: Case Studies and Practical Applications
- Analyzing Real Procurement Data
- Case Study: Using Data to Drive Supplier Negotiations
- Case Study: Implementing Cost-Saving Strategies with Data Insights
- Hands-on Exercises: Creating Data-Driven Procurement Plans
- Developing a Data-Driven Procurement Strategy
