“Unlock Cost Savings and Optimize Efficiency with Procurement Analytics – Backed by the domain expertise of KEPLER Consulting”
Procurement Analytics unlocks insights from your data to drive informed decision-making and cost savings. Our expert team, Strongly supported by KEPLER Consulting‘s domain expertise, uses advanced analysis tools to provide a comprehensive view of your Procurement processes.
By analyzing data like supplier performance, purchase orders, and inventory levels, we identify inefficiencies and improvement areas. We analyze supplier performance trends for negotiation opportunities, optimize inventory to reduce waste, and find cost-saving opportunities in the Procurement process.
With our data-driven insights, you can optimize Procurement for improved business outcomes.
Our Core Expertise In Procurement Analytics
- Data accuracy and completeness
- Accuracy in categorization & spend data analysis due to large number of suppliers and fragmented data
- Absence or inaccuracy of contract data
- Intricate nature of supply chain networks and external factors like market conditions and regulatory shifts.
- Decentralized decision-making process
- Challenge in analyzing indirect spend due to wide range of categories and inconsistent data quality
- Category Spend Analytics for Identifying cost-saving opportunities and improving pricing negotiations linking with PIC PDP (S&OP) process
- Category Taxonomy: To ensure consistent categorization and improved accuracy of spend analytics
- Contract Management: To enhance accuracy of spend analytics by centralizing and updating contract data. Monitoring compliance and identifying opportunities for renegotiation can help achieve cost savings and steer rebates
- Spend Prediction:by analyzing historical data and identifying trends. This can enable better inventory management and negotiation strategies in response to demand and supply chain disruptions
- Tail Spend Analytics:Analyzing spend data at the supplier level can help identify consolidation and cost-saving opportunities. This can enable negotiating better pricing and reducing supplier risk by identifying areas of overlap.
- CAPEX Analytics: To manage capital expenditures by Project progress tracking, cost overrun identification, and benchmarking against industry peers. This can reduce waste and improve project outcomes
- Indirect Spend Analytics: To identify cost-saving and process improvement opportunities by analyzing spending patterns and supplier performance at the category level. This can enable negotiating better pricing and improving supplier relationships
- Collecting and aggregating data from various sources to provide comprehensive and accurate cost estimations
- Obtaining negotiation data and developing new data collection methods or tools
- Identifying factors impacting overall cost and their complex interactions
- Dealing with incomplete or inconsistent bid data from suppliers
- Pricing discrepancies
- Availability and accuracy of benchmarking data
- Cost Estimation Analytics: To provide a basis for negotiations and cost reduction strategies by accurately estimate the cost of goods or services
- Negotiation Analytics:To improve negotiation strategies for win-win scenarios by identifying cost-saving opportunities
- Cost Modeling Analytics:To optimize cost structures & understand the inflation by providing insights on the impact of different cost factors on the overall cost of goods or services
- Bid Analytics:To identify the most cost-effective options by evaluating supplier proposals with various dimensional analysis
- Price Variance Analytics:To uncover potential cost-saving opportunities by identifying pricing discrepancies and anomalies
- Cost Benchmarking Analytics: To identify areas for improvement by comparing costs against industry standards
- Difficulty in obtaining and analyzing accurate and complete data from suppliers
- Excess consumption patterns and identifying root causes
- Balancing competing priorities of cost reduction, quality, and delivery timelines
- Defining and measuring relevant KPIs to accurately capture performance
- Coordinating between different business units or systems to access and integrate data from multiple sources
- Finding relevant and reliable benchmark data, especially in non-standardized industries or markets
- Invoice Analytics: To identify areas for cost reduction and potential cost-saving opportunities
- Consumption Analytics:To identify areas of excess consumption and reduce costs
- Optimal PO Allocation Analytics: To ensure effective and efficient resource utilization, leading to cost reduction.
- PO KPI Analytics: To identify areas for improvement in cost reduction and efficiency by analyzing purchase order performance
- Pre-M&A Synergy Analytics:To identify cost-saving and efficiency opportunities following a merger or acquisition through transaction data analysis
- Post-M&A Synergy Analytics:To identify areas for improvement through transaction data analysis. Monitoring post-merger integration progress.
- Benchmarking: To identify cost-saving opportunities and areas for improvement by comparing transaction data with industry or market benchmarks
- Effectively comparing bids from multiple suppliers with varying offerings and pricing structures
- Incorporating multiple criteria and data points into the decision-making process
- Limited availability of data on potential suppliers, particularly in emerging or niche markets
- Limited negotiation ability with suppliers, especially with few options or suppliers having significant market power
- RFX Analytics:To identify the most suitable supplier for optimal procurement decisions by evaluating supplier bids based on factors like price, quality, and delivery time
- MCDM-based Vendor Analytics:To evaluate suppliers based on multiple criteria and select the best supplier for specific projects by utilizing multi-criteria decision-making (MCDM) techniques
- Supplier Selection Analytics: To streamline supplier sourcing processes by identifying potential suppliers based on factors such as price, quality, and delivery time
- Bid Optimization Analytics:to identify the most cost-effective solutions by optimize supplier bids and maximizing value in procurement activities
- Establishing standardized criteria and weightage system for evaluating vendor risks across different categories
- Ensuring evaluation metrics align with business objectives and accurately capture vendor performance across procurement processes
- Integrating data from multiple sources and systems for comprehensive procurement data
- Identifying and validating relevant data sources and factors for supplier failure prediction
- Keeping up with evolving regulations and maintaining a flexible compliance monitoring system to adapt to new requirements
- Establishing a system for timely and effective communication of potential risks across departments and stakeholders
- Balancing risk mitigation strategies with cost savings and supplier performance while aligning with overall business goals
- Vendor Risk Scoring & Vendor Risk Scoring Analytics: To Automate risk scoring and gain real-time insights into vendor risk by evaluating vendor risk based on financial stability, compliance, and reputational factors
- Performance Evaluation Analytics: To enhance vendor management by monitoring vendor performance, identifying improvement areas, and automating performance evaluation processes
- BI Control Towers:To enable proactive risk management and informed decision-making by centralizing procurement data for real-time monitoring, risk identification, and supplier performance evaluation
- Failure Predictions Analytics: to automate failure prediction processes and to gain real-time insights into supplier risk by using machine learning algorithms and predicting supplier failures
- Compliance Monitoring: To ensure suppliers’ adherence to laws and regulations by automating compliance monitoring and providing real-time insights into compliance risks
- Early Warning Systems: To enable timely risk mitigation and business continuity by utilizing data analytics to proactively identify potential risks before they escalate and setting up suitable trigger alerts
- Risk Mitigation Strategies: To mitigate procurement risks by diversifying supplier networks and optimizing risk management practices through identifying, prioritizing, and developing strategies
Industries We Serve
Personal Care
Unleash the potential of personal care industry with cutting-edge analytics!
Automotive
Drive into the future of the automobile industry with analytics at the helm!
Medical
Revolutionize healthcare with insights from the forefront of data analytics!
Private Equity
Revolutionize private equity performance with the strategic use of analytics and big data.
Packaging
Packaging that delivers - elevate your brand with data-driven analytics!
Energy
Empower your energy business with data-driven insights and advanced analytics technologies.
Aerospace
Harness the power of analytics to improve aerospace operations and customer experience.
Defense
Transform defense operations and decision-making with cutting-edge analytics technologies.
Railways
Unlock the full potential of railway transportation through the power of analytics.
Retail
Unlock the full potential of retail sales and profitability through strategic use of data analytics.
Personal Care
Unleash the potential of personal care industry with cutting-edge analytics!
Private Equity
Revolutionize private equity performance with the strategic use of analytics and big data.
Aerospace
Harness the power of analytics to improve aerospace operations and customer experience.
Automotive
Drive into the future of the automobile industry with analytics at the helm!
Packaging
Packaging that delivers - elevate your brand with data-driven analytics!
Defence
Transform defense operations and decision-making with cutting-edge analytics technologies.
Medical
Revolutionize healthcare with insights from the forefront of data analytics!
Energy
Empower your energy business with data-driven insights and advanced analytics technologies.
Railways
Unlock the full potential of railway transportation through the power of analytics.
Retail
Unlock the full potential of retail sales and profitability through strategic use of data analytics.
