Problem Statement

Procurement teams typically deals with the same scope of data but with different requirements for analysis; identification of cost savings, where should the team optimise pricing at, which supplier/vendor has been awarded multiple contracts across departments (key man risk), what has the past average price been at and if there's room for further contract negotiation.

An example of Vendor & supplier data structure

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Please refer to this article for more information about preparing data.

Segments

A segment is a qualitative value, like names or categories. Here are some of the typical segments we find in vendor & supplier data:

  • Vendor attributes: Vendor name, vendor company size, vendor category, etc.

  • Product attributes: Product description, product sub-description, material description, etc. 

  • Company attributes: Site/office location, project name, project description, entity, etc.

  • Other attributes: contract manager, contract status, ordering department, orderer name etc.

Measures

A measure is a quantitative, numeric value. Here are some of the typical measures we find in vendor & supplier data:

  • Spend

  • Quantity purchased

  • Unit price

  • Average Unit Price per Product

  • Average Spend per Project

  • Average Spent per Department

  • Variance to Budget*

*To compare spend to budget and calculate variance to budget, you would need to upload a separate goals dataset. Click here to read more on goals feature.

What sort of insights can Auto Insights help me uncover?

Identify cost savings

  • Spend by site location

  • Unit price trend for Product last financial year

Optimise pricing

  • Unit price trend by Product Category

  • Unit price trend by Product by Vendor

  • Unit price variance for a particular product

  • Spend by vendor

Support supplier negotiation & vendor management

  • Expired contracts by contract manager

  • Spend by contract status this financial year

  • Spend with preferred vendors last financial year

  • Spend with non-preferred vendors last quarter

Monthly/Quarterly/Yearly Reporting

  • Spend comparing contract manager in July 2021 vs June 2021

  • Spend comparing Departments in FY21 vs FY20

  • Average Spend per Project comparing Projects in FY22 Q1

Related material

How to prepare data

How to upload data
Quick guide to Auto Insights

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If you have any questions, please contact us at support@hyperanna.com. 

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