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We share your commitment to a greener future. Our sustainable procurement practices ensure not just cost efficiency, but also ecological responsibility. Together, we’ll make choices that benefit your organization and our planet.
Knowledge is the compass for strategic procurement. Leveraging procurement analytics, intelligence, and custom dashboards, we bring clarity and foresight into your procurement processes. With us, you’re not just making decisions; you’re crafting a vision.
These are quite recently the absolute most normal inquiries we get inquired.
Spend Analysis is a detailed process involving the collection, cleaning, categorizing, and analyzing of procurement data to gain a comprehensive understanding of an organization’s spending patterns. It’s essential for identifying cost-saving opportunities, enhancing procurement efficiency, and ensuring compliance with procurement policies.
The primary objectives include reducing total cost of ownership, enhancing efficiency, and ensuring compliance with procurement policies. It helps organizations make data-driven decisions, thereby improving their procurement processes.
With over 12 years of experience and a portfolio that includes Fortune 500 corporations, EmpoweringCPO offers customized solutions based on extensive experience across over 700 Direct and Indirect categories in various industries.
We initiate the process by collecting data from diverse sources within your organization. This data undergoes rigorous cleaning to identify and remove duplicates and correct inaccuracies, ensuring it’s reliable and analysis-ready.
A customized taxonomy is a tailored classification system designed to fit your organization’s unique spending characteristics and industry-specific requirements. It serves as the backbone for meaningful data analysis.
Through our customized dashboards, you can monitor procurement performance, track KPIs, and make informed decisions. Opportunity assessment helps prioritize categories that offer the most significant savings potential and are easier to source, giving you a clear path for strategic initiatives.
Our approach is highly customized and flexible. We employ Business Intelligence and Dashboard platforms from the Leaders quadrants to offer the best user experience. We also provide real sourcing opportunities based on market conditions and benchmarks, rather than just basic data analysis.
Our deliverables include accurate spending classification, identification and quantification of savings opportunities, facilitation of informed decision-making, and development of sourcing roadmaps and implementation plans.
Absolutely, we’re happy to share case studies from our extensive experience across industries. We can also conduct pilot projects to demonstrate the value and expertise we bring to your spend analysis efforts.
You can reach out to us through the contact details on our website. We’ll work closely with you to understand your specific challenges and customize our services to meet your unique needs.
These are quite recently the absolute most normal inquiries we get inquired.
Strategic Sourcing is a systematic approach to procurement that focuses on data-driven decision-making, market intelligence, and rigorous analysis. Unlike traditional procurement, which is often decentralized and based on gut feelings, strategic sourcing is coordinated by a specialized procurement department and leverages data to optimize the supply base and reduce costs.
The main objectives are to optimize the supply base, reduce the Total Cost of Ownership (TCO), and enhance long-term competitiveness. This approach allows you to achieve significant cost savings, establish better supplier relationships, and streamline procurement processes.
With a wealth of expertise across various industries, EmpoweringCPO offers tailored solutions that help you achieve significant cost savings and optimize your procurement performance. We provide market intelligence, analytical rigor, and effective influencing tools to ensure your sourcing projects are successful.
Our process is a structured approach that employs strategies like spend consolidation, supplier rationalization, market intelligence gathering, and rigorous supplier evaluation. It’s supported by several key success factors including executive buy-in, effective communication, and continuous improvement.
We conduct thorough data and TCO analyses to provide a complete picture of your procurement landscape. This enables you to identify areas for improvement and implement strategies that lead to long-term cost savings.
Effective supplier management is a cornerstone of our strategic sourcing process. We establish clear expectations, foster strong relationships, and use performance metrics to ensure suppliers meet your quality, delivery, and performance requirements.
Absolutely, we have numerous success stories across various industries, showcasing how our strategic sourcing services have led to significant cost savings and improved procurement performance. We are also open to initiating a pilot project to demonstrate the impact of our customized approach.
Recognizing that each organization is different, we adopt a customized approach for every strategic sourcing project. This ensures that you receive maximum benefits tailored to your specific procurement landscape.
You can reach out to us through our website or directly via email or phone. Our dedicated professionals are eager to discuss your unique procurement needs and offer tailored solutions.
These are quite recently the absolute most normal inquiries we get inquired.
Realizing savings is often complicated due to multiple factors like price discrepancies, incorrect purchasing quantities, and using non-contracted vendors. These complexities make it challenging to fully realize reported savings, which can impact your financial performance negatively.
Three main culprits usually cause loss of savings:
Our service uses data modeling, analytics, and number crunching to closely monitor and track your savings compliance across various categories. This ensures that you are making informed decisions, optimizing procurement processes, and achieving your financial goals.
Partnering with us offers multiple benefits:
Certainly! We’ve had success in sectors like healthcare, tracking savings compliance for pharmaceutical products. In the FMCG manufacturing sector, we’ve helped a major U.S.-based company in the MRO category. These case studies demonstrate our ability to optimize procurement processes and realize projected savings.
Our tools are tailored to meet the unique needs of each client, providing real-time visibility into procurement data. These tools are technology-agnostic, ensuring seamless integration with your existing systems.
Our team of experts leverages cutting-edge data modeling and analytics techniques to provide in-depth insights into your procurement processes. This enables us to identify patterns, trends, and areas of non-compliance, empowering you to make data-driven decisions.
We adhere strictly to the agreed SLAs and TAT, maintaining a 99% adherence rate to ensure timely and accurate insights for our clients.
To begin, you can reach out to us via our contact details or through our client portal. We’ll then work closely with you to understand your specific challenges and tailor our services accordingly.
We’re always here to help. Feel free to reach out to us directly for any more specific queries or clarifications. Our team is readily available to provide the information you need.
These are quite recently the absolute most normal inquiries we get inquired.
Tail Spend is the spend that forms a relatively small proportion of total spending but has high volumes and suppliers.
The Pareto principle is applicable to Tail Spend, where the lowest 20% of the spend is represented by 80% of the suppliers in an organization.
Unplanned Spend is usually towards spend that is unplanned or Maverick. It can be controlled by identifying the requisitioner and the user department and ensuring that compliance and proper process is followed.
EmpoweringCPO can review your current classification and ensure that all such mistakes are corrected.
One-time, but high spend is usually project-related spending, which is expected to happen only once. For such spending, a quick RFP or RFQ can be conducted, and procurement can be leveraged to achieve efficiency.
The best way to handle fragmented and not consolidated Tail Spend is to review the classification and ensure they all fall into one common bucket or category. Consolidating increases the spending amount and hence the bargaining power versus the vendors can be improved, also the number of vendors can be reduced.
Low Price High-Frequency items are goods or services that are very low in price per delivery, but if the same spend is contracted for multiple years, the spend size can increase drastically. Some services may be low in price, for example, temporary staffing, but the same spend, if it is contracted for 2 – 3 years, can be huge and may interest the vendors.
Low Volumes and Low Price Tail Spend is the true tail spend. When these spot buys are channeled through EmpoweringCPO, depending on the type of spend, we can adopt one of the following processes to achieve efficiency: 1) 3 Bid and Buy 2) RFQ with select suppliers 3) Quick Sourcing Projects.
Tail Spend is often under-managed in most companies because it demands more effort, and the rewards are low. Most of the time, spot buying is done by the end-user and not the procurement team. These users are not trained as buyers and end up buying products/services at higher costs without understanding the supplier market dynamics.
EmpoweringCPO is a specialist service provider who can handle Tail Spend management in a timely manner. We have the right kind of Tail Spend management strategies, skills, and know-how to handle such spending. The whole process is completed within 3-4 days from the day the request is received. Generally, the savings achieved for most of the spot buy categories are around 8-10%.
These are quite recently the absolute most normal inquiries we get inquired.
Clean data is like the backbone of effective business operations. It reduces errors, streamlines processes, and enables you to make decisions based on accurate information. This leads to everything from improved customer satisfaction to a more efficient supply chain, ultimately fostering growth and innovation in your organization.
We offer a comprehensive service designed to make your Master Data accurate, consistent, and complete. This includes everything from taxonomy preparation and item classification to ongoing data management. Our aim is to empower you to make data-driven decisions confidently, thus enhancing your competitiveness and efficiency.
Absolutely! Our methodology comprises four key steps:
Clean data eliminates duplicate efforts, minimizes errors, and streamlines your supply chain. This leads to cost savings in labor, supply, and logistics, allowing you to allocate resources more efficiently.
No, maintaining high-quality data is an ongoing effort. We offer continuous management and data cleansing services to ensure your Master Data remains accurate and relevant to your evolving business needs.
Clean data is instrumental in everything from order processing and inventory management to scheduling and transportation. It enables all stakeholders in the supply chain to make informed decisions, thereby increasing collaboration, reducing errors, and streamlining operations.
We bring a unique blend of domain expertise, collaboration with leading OEMs, and a tailored approach to meet your specific challenges. Our focus is not just on optimizing your Master Data, but also on empowering your entire organization to function more efficiently.
Contact us today to take the first step toward achieving clean data and optimizing your Master Data. We’ll discuss your specific needs and show you how we can help you unlock the full potential of clean data for your business.
Absolutely! We provide a range of resources like whitepapers, webinars, and articles to help you understand the process, its importance, and best practices for maintaining clean data.
These are quite recently the absolute most normal inquiries we get inquired.
Procurement Data Analytics is a process of inspecting, cleaning, transforming, and modeling data with the goal of highlighting useful information and suggesting conclusions. Its main goal is to support decision-making during the strategic sourcing process as well as during the ongoing category management process.
Some of the major outputs are Category Data Analysis, Cost Escalation Metrics, RFP Pricing Worksheet, Baseline Preparation, Vendor Pricing Evaluation, Cost Model, TCO ANALYSIS, and Compliance Model.
The first step of the Strategic Sourcing process that EmpoweringCPO’s procurement data analytics can help with is Category Data Analysis, which involves understanding the spending across various business groups and geography and also data consolidation.
Cost Escalation Metrics are created through further understanding of the category and Market Research, which can be used as part of the RFP Package.
Based on an understanding of the historic spending and the pricing structure, historic data is prepared in a format to help compare and evaluate the new prices.
In addition to vendor pricing, it is also important to evaluate non-pricing qualitative factors. Furthermore, data analysis helps in understanding TCO for all proposals.
Compliance Model is usually the last stage of the Strategic Sourcing process and helps in the ongoing management of contracts, model is created so as to achieve compliance.
The benefits of Procurement Data & Spend Analytics include assisting category managers in taking informed decisions instead of relying on intuition, providing a better understanding of the category, ensuring ongoing and proactive management of category, providing regular insights to category managers based on reports, making vendor bids comparable on an ‘Apple to Apple’ basis, and maximizing savings achieved through the strategic sourcing process.
EmpoweringCPO has a qualified army of data scientists – specialists at identifying and extracting business value from structured and unstructured data. Their resources have advanced information management skills, analytical skills, and business expertise. As a result, this helps in understanding large data sets and leveraging new types of information from various sources.
EmpoweringCPO can help businesses in procurement analytics by providing customized procurement data analytics services and reports that are produced according to the client’s specific needs during the various stages of the process. Their services can assist in various stages of the Strategic Sourcing process, including category data analysis, cost escalation metrics, RFP pricing worksheet, baseline preparation, vendor pricing evaluation, cost model, TCO analysis, and compliance model. Additionally, their procurement analytics can help businesses maximize savings achieved through the strategic sourcing process, provide regular insights to category managers, and assist in ongoing and proactive management of categories.
These are quite recently the absolute most normal inquiries we get inquired.
Procurement Intelligence is the methodical gathering and analysis of data related to your supply markets. It aims to equip you with actionable insights, empowering your strategic sourcing and category management processes with data-backed decisions.
We offer specialized, unbiased research tailored to your specific needs. Our depth of industry knowledge and analytical capabilities level the playing field against vendors who often have more extensive market intelligence resources.
Our detailed reports cover a multitude of factors including commodity profiles, cost structures, supply base profiles, market indicators, competitive analysis, and more. This 360-degree view allows you to make holistic and educated procurement decisions.
‘Should Cost Analysis’ provides a detailed breakdown of all cost components involved in a product or service. Understanding these elements enables you to negotiate better and pinpoint areas for potential cost savings.
Market indicators include demand and price drivers, global market conditions, and capacity utilization. These factors directly impact the price and availability of products or services, making them crucial for strategic planning.
We offer flexible reporting formats and communication channels like Email, Video Call, Chat, and Telephone. We even schedule daily or weekly updates to keep you informed on project statuses and activities.
Our portal serves as an interactive platform for seamless communication between you and our research analysts. It’s a secure environment where you can specify research requirements and download completed reports, ensuring a smooth flow of information.
We maintain strict Service Level Agreements (SLAs) and boast a 99% adherence rate to agreed-upon deadlines for deliverables.
Our deliverables are versatile, available in PowerPoint presentations, Excel sheets, and PDF formats, catering to different client preferences.
To kick-start your journey with us, you can reach out via our Client Engagement Portal or directly through our contact details. After understanding your specific requirements, we’ll tailor our services to meet your needs.
We’re always here to help. For any more questions or clarifications, feel free to contact us directly. Our team is readily available to provide the information you require.
These are quite recently the absolute most normal inquiries we get inquired.
Supplier Risk Assessment is a program that helps mitigate risk associated with suppliers by identifying, quantifying, and providing for remedies or safeguards to protect an organization from potential disruptions to the supply chain.
The risks associated with supplier failure include immediate revenue loss, interruption of production, additional costs to resources, delays of major capital investment projects, requirement for increased management time, loss of customer goodwill, reputational damage, potential loss of any competitive advantage, and adverse stakeholder reactions like analyst downgrades.
Supplier Risk Assessment can help your business identify and mitigate the risks associated with supplier failure, protect your supply chain from disruptions, and maintain business continuity.
The four steps adopted by EmpoweringCPO in supplier risk assessment are collecting data during the sourcing process and validating it by third-party sources, classifying vendors as per risk type and determining information source to monitor, continuing and repetitive analysis to trend the information and identify potential failure, and preparing mitigation plans, documenting competitive suppliers, continually researching for new suppliers, and initiating their approval process.
EmpoweringCPO integrates risk mitigation and management in the sourcing process by conducting marketplace due diligence, asking the right questions, collecting and documenting all information about suppliers, and verifying supplier information.
Vendors are classified as per risk type based on their criticality, which is identified based on some factors.
EmpoweringCPO monitors both external and internal data in real-time to identify and quantify supplier risk.
EmpoweringCPO analyzes the data collected in the previous steps based on several parameters and trends the analyzed information over time to get a bigger picture of supplier performance over a period of time.
EmpoweringCPO will provide a dashboard that visually represents the critical factors and ‘at-risk’ suppliers, as well as a visual summary of the position of supplier(s) risk.
Working with EmpoweringCPO for your supplier risk assessment needs can help you identify and mitigate the risks associated with supplier failure, protect your supply chain from disruptions, and maintain business continuity, ultimately leading to increased efficiency and profitability for your business.
These are quite recently the absolute most normal inquiries we get inquired.
Procurement Outsourcing involve managing all aspects related to category management, including Source to Contract (S2C), Supplier Management, and Procure to Pay (P2P) process. With our Procurement Outsourcing Services, we help our clients reduce costs, increase efficiency, and deliver best-in-class innovations.
Our skill sets around Procurement Consulting Services, our digital toolsets, and our expertise in dashboard preparation are definite advantages when we undertake Procurement Outsourcing for our clients. We help our clients achieve their desired procurement and category management objectives, reduce costs, increase efficiency, and deliver best-in-class innovations.
Using our expertise and capabilities around Dashboards and Tools, as part of our services, we support our clients with Category Management, Strategic Sourcing, Contract Services, Supplier Management, Procurement Operations, and Compliance Management.
EmpoweringCPO implements stringent security safeguards and processes for every information touch-point. Our security process’ drills down to all security aspects related to People, Technology, Physical, and Network infrastructures. We take the confidentiality and security of clients’ information as our topmost priority to build long-term relationships with our clients.
We implement ISO 9001 and ISO 27001, and our security measures include communication and data transfer protocols, physical security measures, people and culture safeguards, legal agreements, and project IP protection measures.
As part of our services, our aim is to support procurement organizations to manage their client group expectations. To address these challenges, our scope includes analyzing detailed spending, transactional, and pricing data, as well as continuously monitoring the supply markets.
Our ongoing deliverables include Compliance Management, where we help our clients stay compliant with regulations and policies.
We ensure that our teams are adequately trained and understand clients’ security requirements. We also provide special training for clients where additional security is required.
Every team dedicated to a particular client or project has its own secure location to save project-related information. Only authenticated access is allowed to the project files and information. This prevents unauthorized access within the company as well.
Our delivery model with strong SLAs for outsourced procurement services is in fact our USP. We are of the opinion that the best value can be derived if a point person responsible for client group management is retained in-house and all activities and deliverables listed above are outsourced to EmpoweringCPO.
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A Supplier Diversity Program is a business program that promotes the use of diverse-owned, women-owned, veteran-owned, LGBT, service-disabled veteran-owned, historically underutilized businesses, and small business vendors as suppliers. This process helps to sustain and progressively transform a corporation’s supply chain thus reflecting the demographics of the community in which it operates by recording transactions with diverse suppliers
Having a diverse supplier pool is a major competitive advantage and a powerful business tool. It also provides companies access to support from federal, state, and local government bodies. Supplier Diversity Programs help to increase competition in the process, resulting in cost savings and better business outcomes.
EmpoweringCPO leverages its strong Procurement Intelligence gathering capabilities to help clients locate potential minority suppliers and implement the first 3 steps of the Strategic Sourcing process, which are critical to the success of any Supplier Diversity program. We also provide Supplier Diversity Consulting Services, including program setup, ongoing management and support, diversity vendor databases, and sourcing strategy development.
The Strategic Sourcing steps include generating a portfolio, allocating a percentage of spend or a whole subcategory of spend to be sourced with MWBEs, utilizing national minority supplier databases or internal supplier diversity databases to increase competition, and applying a sourcing strategy based on Strategic Sourcing Gemstone.
Supplier Diversity Best Practices include identifying opportunities to source from diverse suppliers, setting specific and measurable goals, tracking and reporting progress, involving internal stakeholders in the program, and partnering with diverse suppliers for mutual benefit.
EmpoweringCPO helps with the Supplier Diversity Process by providing support for initial program setup, ongoing program management, and developing proposed policies, responsibilities, and procedures. We also help to identify diversity vendors, develop sourcing strategies, and set supplier diversity goals.
Yes, EmpoweringCPO provides reference case studies to demonstrate our experience and expertise in this domain.
Proposed policies, responsibilities, and procedures in Supplier Diversity Programs include guidelines for identifying and selecting diverse suppliers, setting and tracking supplier diversity goals, establishing Tier 2 requirements, and reporting progress to stakeholders.
EmpoweringCPO ensures the success of a Supplier Diversity Program by providing Supplier Diversity Consulting Services, including initial program setup, ongoing management and support, diversity vendor databases, and sourcing strategy development. Our team of research analysts and supplier diversity consultants have the strategic sourcing skills and research capabilities to implement and ensure the program is successful.
The top 15 companies for Supplier Diversity include Accenture, AT&T, Bank of America, Comcast, Delta Air Lines, General Electric, IBM, Intel, JPMorgan Chase, Kellogg Company, Lockheed Martin, Pfizer, Southern California Edison, Target, and Wells Fargo.
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With the current level of commitment from all major countries for climate change mitigation, the world is on target to warm by 2.7 degrees centigrade by the end of this century. This may lead to high extreme temperatures, ferocious weather, substantial rise in sea levels, and permanent damage to many ecosystems. Going forward, regulations will be more stringent to ensure voluntary commitments are honored. Procurement organizations worldwide can contribute a lot to this effort, and transitioning into Green Procurement organizations is the only way forward.
EmpoweringCPO can help identify categories that can be challenged in favor of greener options and can also help in selecting the right options and vendors. During the execution of a strategic sourcing project or during ongoing category management, EmpoweringCPO can introduce many procurement interventions to achieve sustainable goals.
The path adopted or option selected can be relatively better, it may not be the greenest, but can be greener compared to the product or service being sourced currently. Start by conducting a thorough spending analysis and prepare a plan for executing sourcing projects with an agenda of improving the sustainability goals of the organization. The categories are identified that should be executed in 4 – 6 phases; each phase is of 6 months.
The criteria used for identifying these categories are based on the following: Environmental or Social impacts are clear and huge; plenty of green alternatives are available; the cost or price of the sustainable product or service is lower or equal compared to that for the current specification; the focus is on categories that can be supplied by local vendors; categories for which Ecolabels are available; and, even if Ecolabels are not available, identifying categories for which International standards and specifications related to sustainability goals are available.
To achieve sustainability goals, the bids are evaluated based on life cycle cost analysis, which takes into consideration the following cost components: all costs associated with purchase like product cost, delivery, installation, and commissioning; operating costs including water, gas, spares, maintenance, employee health, social coverage, etc.; end-of-life costs like decommissioning and removal.
Vendors are evaluated for sustainable procurement based on the Non-Price parameter, along with other questions, their answers to all the sustainability-related questions are also thoroughly reviewed and scored to rank vendors.
Sustainability-related contract performance clauses include clauses related to the use of eco-friendly products, waste reduction, reduction of greenhouse gas emissions, and promoting sustainable practices throughout the supply chain.
EmpoweringCPO can help identify categories that can be challenged in favor of greener options and we can also help in selecting the right options and vendors. During the execution of a strategic sourcing project or during ongoing category management, EmpoweringCPO can introduce many procurement interventions to achieve sustainable goals. We can assist in shortlisting vendors with strong credentials for sustainability, developing sustainability specifications, evaluating vendors based on their sustainability-related answers, and selecting suppliers based on life cycle cost analysis. We can also help in developing implementation and transition plans, contracts, and performance metrics that have sustainability-related clauses.Top of Form
By ensuring that the savings projected or reported during a strategic sourcing project are actually realized, savings compliance tracking helps organizations to save money. It helps identify areas of non-compliance and take corrective action to ensure that the savings are realized.
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A procurement dashboard is a visual representation of key procurement metrics and data that provide an at-a-glance view of procurement performance. It is a tool used by procurement professionals to track and monitor procurement activities, identify trends, and make informed decisions.
The importance of a procurement dashboard lies in its ability to enable procurement teams to monitor and evaluate their performance, pinpoint areas in need of improvement, and accomplish their objectives and key performance indicators (KPIs). By providing real-time access to data and metrics, a procurement dashboard facilitates data-driven decision-making, enhances supplier performance, and drives cost savings for the organization.
EmpoweringCPO provides a diverse range of procurement dashboards and tools that cater to the specific needs of organizations. From a procurement KPI dashboard that helps track and measure procurement performance, to a spend analytics dashboard that provides insights into spending patterns, EmpoweringCPO equips procurement professionals with powerful tools to make informed decisions. In addition, their opportunity assessment dashboard helps identify areas for improvement, while the compliance management tool and supplier risk management tool ensure compliance with regulations and minimize potential risks. These cutting-edge procurement dashboards and tools empower organizations to optimize their procurement processes and drive success.
A procurement KPI dashboard is a visual tool that displays key performance indicators (KPIs) for measuring and tracking procurement performance. It provides a comprehensive overview of the performance metrics that are important for the procurement function, enabling procurement professionals to monitor and evaluate their progress towards meeting their goals.
A spend analytics dashboard is a visual tool that provides insights into an organization’s spending patterns and helps procurement professionals make informed decisions. It allows organizations to track and analyze spending data across various categories, suppliers, departments, and time periods, providing a comprehensive view of their expenditure.
An opportunity assessment dashboard is a visual tool that helps procurement professionals identify areas of opportunity and improvement in their procurement processes. It allows organizations to evaluate their procurement practices and identify areas where they can improve efficiency, reduce costs, or optimize supplier performance.
A compliance management tool is a software application designed to help organizations manage and track their compliance with relevant laws, regulations, and industry standards. It enables procurement professionals to ensure that their procurement activities are in compliance with various rules and regulations, minimizing the risk of legal or regulatory violations.
A supplier risk management tool is a software application designed to help organizations identify, assess, and manage risks associated with their suppliers. It enables procurement professionals to evaluate supplier risks and take proactive measures to mitigate them, minimizing the potential for supply chain disruptions and other negative impacts on the organization.
At EmpoweringCPO, we have the expertise to develop spend dashboards and tools using various technologies, based on the specific preferences of our clients. We use top-rated Business Intelligence and Dashboard platforms that are recognized as Leaders in their respective quadrants, ensuring that our clients receive the best user experience and insights possible. Our goal is to create highly customized and effective spend dashboards and tools that meet the unique needs of each client and help them achieve their procurement objectives.
EmpoweringCPO’s team of experienced sourcing professionals, focus on outstanding client service, and ability to achieve results sets us apart from other providers.
Spend analysis is the process of collecting, cleansing, classifying, and analyzing an organization’s spend data to gain insights into its procurement activities. It involves identifying and categorizing all the purchases made by an organization, including direct and indirect spend, and analyzing the data to identify patterns, trends, and opportunities for cost savings and process improvements.
Taxonomy preparation is the process of defining and creating a standardized classification system for spend data in a spend analysis project. It involves establishing a consistent set of categories and subcategories for spend data that can be used to analyze procurement activities across an organization.
Data classification is the process of categorizing data into different groups or classes based on certain characteristics, such as its content, sensitivity, or usage. It involves organizing and labeling data according to a predefined set of categories or criteria to facilitate its management, protection, and sharing.
Data analysis is the process of inspecting, cleaning, transforming, and modeling data to extract meaningful insights and information. It involves using statistical and computational methods to identify patterns, trends, and relationships in data, and to draw conclusions and make informed decisions based on the analysis.
An interactive visual dashboard is a graphical user interface that displays real-time data in a way that allows users to explore and analyze the data interactively. It typically presents data using visual elements such as charts, graphs, and tables, and enables users to interact with the data by selecting different variables, adjusting filters, and drilling down into the details.
A sourcing roadmap or implementation plan is a strategic plan that outlines the steps and actions necessary to implement a sourcing strategy or initiative. It is a detailed roadmap that identifies the specific actions required to achieve the goals and objectives of the sourcing strategy, and provides a timeline and budget for the implementation.
The outcome of a strategic sourcing project is the successful implementation of a sourcing strategy that achieves the desired goals and objectives of the project. This typically includes a range of outcomes, including cost savings, improved supplier relationships, increased efficiencies, and enhanced product or service quality.
Spend under management is a metric used by procurement teams to track the percentage of an organization’s total spend that is being actively managed by the procurement function. It refers to the portion of an organization’s spend that is being actively monitored, analyzed, and controlled by the procurement team through strategic sourcing, contract management, and supplier relationship management.
CSR (Corporate Social Responsibility) goals in procurement are objectives set by organizations to ensure that their procurement practices align with their values and commitment to sustainability, ethical business practices, and social responsibility.
Stakeholder metrics in procurement are a set of key performance indicators (KPIs) that are used to measure and evaluate the performance of procurement activities and their impact on various stakeholders, both internal and external to the organization.
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Our procurement market intelligence reports can support your procurement department and assist in making more holistic and unbiased buying decisions.
We currently have around 620 different reports in our repository.
We offer reports for both Direct and Indirect categories, covering various industries and countries.
EmpoweringCPO’s Procurement Intelligence report includes a category profile document that lists information about the products or services, market size and growth rate, manufacturing process, critical-to-quality factors, and more. The report also includes an industry insights section, a supply base profile section, a market indicators section, and a competitive analysis section. EmpoweringCPO’s Procurement Intelligence report also includes a proposed reporting format and client engagement process management.
Our reports are updated on a regular basis to ensure that the information provided is up-to-date and relevant.
Yes, you can email us and one of our strategic sourcing consultants will promptly schedule an appointment with you to understand your needs and create a custom report.
You can purchase and download the reports directly from our website.
The reports come in various formats like PDF, Excel, Word, and PowerPoint.
Yes, you can request a sample report by contacting us through the email provided on the website.
These are quite recently the absolute most normal inquiries we get inquired.
We share your commitment to a greener future. Our sustainable procurement practices ensure not just cost efficiency, but also ecological responsibility. Together, we’ll make choices that benefit your organization and our planet.
Knowledge is the compass for strategic procurement. Leveraging procurement analytics, intelligence, and custom dashboards, we bring clarity and foresight into your procurement processes. With us, you’re not just making decisions; you’re crafting a vision.
These are quite recently the absolute most normal inquiries we get inquired.
We share your commitment to a greener future. Our sustainable procurement practices ensure not just cost efficiency, but also ecological responsibility. Together, we’ll make choices that benefit your organization and our planet.
Knowledge is the compass for strategic procurement. Leveraging procurement analytics, intelligence, and custom dashboards, we bring clarity and foresight into your procurement processes. With us, you’re not just making decisions; you’re crafting a vision.
These are quite recently the absolute most normal inquiries we get inquired.
Spend Analysis is a detailed process involving the collection, cleaning, categorizing, and analyzing of procurement data to gain a comprehensive understanding of an organization’s spending patterns. It’s essential for identifying cost-saving opportunities, enhancing procurement efficiency, and ensuring compliance with procurement policies.
The primary objectives include reducing total cost of ownership, enhancing efficiency, and ensuring compliance with procurement policies. It helps organizations make data-driven decisions, thereby improving their procurement processes.
With over 12 years of experience and a portfolio that includes Fortune 500 corporations, EmpoweringCPO offers customized solutions based on extensive experience across over 700 Direct and Indirect categories in various industries.
We initiate the process by collecting data from diverse sources within your organization. This data undergoes rigorous cleaning to identify and remove duplicates and correct inaccuracies, ensuring it’s reliable and analysis-ready.
A customized taxonomy is a tailored classification system designed to fit your organization’s unique spending characteristics and industry-specific requirements. It serves as the backbone for meaningful data analysis.
Through our customized dashboards, you can monitor procurement performance, track KPIs, and make informed decisions. Opportunity assessment helps prioritize categories that offer the most significant savings potential and are easier to source, giving you a clear path for strategic initiatives.
Our approach is highly customized and flexible. We employ Business Intelligence and Dashboard platforms from the Leaders quadrants to offer the best user experience. We also provide real sourcing opportunities based on market conditions and benchmarks, rather than just basic data analysis.
Our deliverables include accurate spending classification, identification and quantification of savings opportunities, facilitation of informed decision-making, and development of sourcing roadmaps and implementation plans.
Absolutely, we’re happy to share case studies from our extensive experience across industries. We can also conduct pilot projects to demonstrate the value and expertise we bring to your spend analysis efforts.
You can reach out to us through the contact details on our website. We’ll work closely with you to understand your specific challenges and customize our services to meet your unique needs.
These are quite recently the absolute most normal inquiries we get inquired.
Strategic Sourcing is a systematic approach to procurement that focuses on data-driven decision-making, market intelligence, and rigorous analysis. Unlike traditional procurement, which is often decentralized and based on gut feelings, strategic sourcing is coordinated by a specialized procurement department and leverages data to optimize the supply base and reduce costs.
The main objectives are to optimize the supply base, reduce the Total Cost of Ownership (TCO), and enhance long-term competitiveness. This approach allows you to achieve significant cost savings, establish better supplier relationships, and streamline procurement processes.
With a wealth of expertise across various industries, EmpoweringCPO offers tailored solutions that help you achieve significant cost savings and optimize your procurement performance. We provide market intelligence, analytical rigor, and effective influencing tools to ensure your sourcing projects are successful.
Our process is a structured approach that employs strategies like spend consolidation, supplier rationalization, market intelligence gathering, and rigorous supplier evaluation. It’s supported by several key success factors including executive buy-in, effective communication, and continuous improvement.
We conduct thorough data and TCO analyses to provide a complete picture of your procurement landscape. This enables you to identify areas for improvement and implement strategies that lead to long-term cost savings.
Effective supplier management is a cornerstone of our strategic sourcing process. We establish clear expectations, foster strong relationships, and use performance metrics to ensure suppliers meet your quality, delivery, and performance requirements.
Absolutely, we have numerous success stories across various industries, showcasing how our strategic sourcing services have led to significant cost savings and improved procurement performance. We are also open to initiating a pilot project to demonstrate the impact of our customized approach.
Recognizing that each organization is different, we adopt a customized approach for every strategic sourcing project. This ensures that you receive maximum benefits tailored to your specific procurement landscape.
You can reach out to us through our website or directly via email or phone. Our dedicated professionals are eager to discuss your unique procurement needs and offer tailored solutions.
These are quite recently the absolute most normal inquiries we get inquired.
Realizing savings is often complicated due to multiple factors like price discrepancies, incorrect purchasing quantities, and using non-contracted vendors. These complexities make it challenging to fully realize reported savings, which can impact your financial performance negatively.
Three main culprits usually cause loss of savings:
Our service uses data modeling, analytics, and number crunching to closely monitor and track your savings compliance across various categories. This ensures that you are making informed decisions, optimizing procurement processes, and achieving your financial goals.
Partnering with us offers multiple benefits:
Certainly! We’ve had success in sectors like healthcare, tracking savings compliance for pharmaceutical products. In the FMCG manufacturing sector, we’ve helped a major U.S.-based company in the MRO category. These case studies demonstrate our ability to optimize procurement processes and realize projected savings.
Our tools are tailored to meet the unique needs of each client, providing real-time visibility into procurement data. These tools are technology-agnostic, ensuring seamless integration with your existing systems.
Our team of experts leverages cutting-edge data modeling and analytics techniques to provide in-depth insights into your procurement processes. This enables us to identify patterns, trends, and areas of non-compliance, empowering you to make data-driven decisions.
We adhere strictly to the agreed SLAs and TAT, maintaining a 99% adherence rate to ensure timely and accurate insights for our clients.
To begin, you can reach out to us via our contact details or through our client portal. We’ll then work closely with you to understand your specific challenges and tailor our services accordingly.
We’re always here to help. Feel free to reach out to us directly for any more specific queries or clarifications. Our team is readily available to provide the information you need.
These are quite recently the absolute most normal inquiries we get inquired.
Tail Spend is the spend that forms a relatively small proportion of total spending but has high volumes and suppliers.
The Pareto principle is applicable to Tail Spend, where the lowest 20% of the spend is represented by 80% of the suppliers in an organization.
Unplanned Spend is usually towards spend that is unplanned or Maverick. It can be controlled by identifying the requisitioner and the user department and ensuring that compliance and proper process is followed.
EmpoweringCPO can review your current classification and ensure that all such mistakes are corrected.
One-time, but high spend is usually project-related spending, which is expected to happen only once. For such spending, a quick RFP or RFQ can be conducted, and procurement can be leveraged to achieve efficiency.
The best way to handle fragmented and not consolidated Tail Spend is to review the classification and ensure they all fall into one common bucket or category. Consolidating increases the spending amount and hence the bargaining power versus the vendors can be improved, also the number of vendors can be reduced.
Low Price High-Frequency items are goods or services that are very low in price per delivery, but if the same spend is contracted for multiple years, the spend size can increase drastically. Some services may be low in price, for example, temporary staffing, but the same spend, if it is contracted for 2 – 3 years, can be huge and may interest the vendors.
Low Volumes and Low Price Tail Spend is the true tail spend. When these spot buys are channeled through EmpoweringCPO, depending on the type of spend, we can adopt one of the following processes to achieve efficiency: 1) 3 Bid and Buy 2) RFQ with select suppliers 3) Quick Sourcing Projects.
Tail Spend is often under-managed in most companies because it demands more effort, and the rewards are low. Most of the time, spot buying is done by the end-user and not the procurement team. These users are not trained as buyers and end up buying products/services at higher costs without understanding the supplier market dynamics.
EmpoweringCPO is a specialist service provider who can handle Tail Spend management in a timely manner. We have the right kind of Tail Spend management strategies, skills, and know-how to handle such spending. The whole process is completed within 3-4 days from the day the request is received. Generally, the savings achieved for most of the spot buy categories are around 8-10%.
These are quite recently the absolute most normal inquiries we get inquired.
Clean data is like the backbone of effective business operations. It reduces errors, streamlines processes, and enables you to make decisions based on accurate information. This leads to everything from improved customer satisfaction to a more efficient supply chain, ultimately fostering growth and innovation in your organization.
We offer a comprehensive service designed to make your Master Data accurate, consistent, and complete. This includes everything from taxonomy preparation and item classification to ongoing data management. Our aim is to empower you to make data-driven decisions confidently, thus enhancing your competitiveness and efficiency.
Absolutely! Our methodology comprises four key steps:
Clean data eliminates duplicate efforts, minimizes errors, and streamlines your supply chain. This leads to cost savings in labor, supply, and logistics, allowing you to allocate resources more efficiently.
No, maintaining high-quality data is an ongoing effort. We offer continuous management and data cleansing services to ensure your Master Data remains accurate and relevant to your evolving business needs.
Clean data is instrumental in everything from order processing and inventory management to scheduling and transportation. It enables all stakeholders in the supply chain to make informed decisions, thereby increasing collaboration, reducing errors, and streamlining operations.
We bring a unique blend of domain expertise, collaboration with leading OEMs, and a tailored approach to meet your specific challenges. Our focus is not just on optimizing your Master Data, but also on empowering your entire organization to function more efficiently.
Contact us today to take the first step toward achieving clean data and optimizing your Master Data. We’ll discuss your specific needs and show you how we can help you unlock the full potential of clean data for your business.
Absolutely! We provide a range of resources like whitepapers, webinars, and articles to help you understand the process, its importance, and best practices for maintaining clean data.
These are quite recently the absolute most normal inquiries we get inquired.
Procurement Intelligence is the methodical gathering and analysis of data related to your supply markets. It aims to equip you with actionable insights, empowering your strategic sourcing and category management processes with data-backed decisions.
We offer specialized, unbiased research tailored to your specific needs. Our depth of industry knowledge and analytical capabilities level the playing field against vendors who often have more extensive market intelligence resources.
Our detailed reports cover a multitude of factors including commodity profiles, cost structures, supply base profiles, market indicators, competitive analysis, and more. This 360-degree view allows you to make holistic and educated procurement decisions.
‘Should Cost Analysis’ provides a detailed breakdown of all cost components involved in a product or service. Understanding these elements enables you to negotiate better and pinpoint areas for potential cost savings.
Market indicators include demand and price drivers, global market conditions, and capacity utilization. These factors directly impact the price and availability of products or services, making them crucial for strategic planning.
We offer flexible reporting formats and communication channels like Email, Video Call, Chat, and Telephone. We even schedule daily or weekly updates to keep you informed on project statuses and activities.
Our portal serves as an interactive platform for seamless communication between you and our research analysts. It’s a secure environment where you can specify research requirements and download completed reports, ensuring a smooth flow of information.
We maintain strict Service Level Agreements (SLAs) and boast a 99% adherence rate to agreed-upon deadlines for deliverables.
Our deliverables are versatile, available in PowerPoint presentations, Excel sheets, and PDF formats, catering to different client preferences.
To kick-start your journey with us, you can reach out via our Client Engagement Portal or directly through our contact details. After understanding your specific requirements, we’ll tailor our services to meet your needs.
We’re always here to help. For any more questions or clarifications, feel free to contact us directly. Our team is readily available to provide the information you require.
These are quite recently the absolute most normal inquiries we get inquired.
Supplier Risk Assessment is a program that helps mitigate risk associated with suppliers by identifying, quantifying, and providing for remedies or safeguards to protect an organization from potential disruptions to the supply chain.
The risks associated with supplier failure include immediate revenue loss, interruption of production, additional costs to resources, delays of major capital investment projects, requirement for increased management time, loss of customer goodwill, reputational damage, potential loss of any competitive advantage, and adverse stakeholder reactions like analyst downgrades.
Supplier Risk Assessment can help your business identify and mitigate the risks associated with supplier failure, protect your supply chain from disruptions, and maintain business continuity.
The four steps adopted by EmpoweringCPO in supplier risk assessment are collecting data during the sourcing process and validating it by third-party sources, classifying vendors as per risk type and determining information source to monitor, continuing and repetitive analysis to trend the information and identify potential failure, and preparing mitigation plans, documenting competitive suppliers, continually researching for new suppliers, and initiating their approval process.
EmpoweringCPO integrates risk mitigation and management in the sourcing process by conducting marketplace due diligence, asking the right questions, collecting and documenting all information about suppliers, and verifying supplier information.
Vendors are classified as per risk type based on their criticality, which is identified based on some factors.
EmpoweringCPO monitors both external and internal data in real-time to identify and quantify supplier risk.
EmpoweringCPO analyzes the data collected in the previous steps based on several parameters and trends the analyzed information over time to get a bigger picture of supplier performance over a period of time.
EmpoweringCPO will provide a dashboard that visually represents the critical factors and ‘at-risk’ suppliers, as well as a visual summary of the position of supplier(s) risk.
Working with EmpoweringCPO for your supplier risk assessment needs can help you identify and mitigate the risks associated with supplier failure, protect your supply chain from disruptions, and maintain business continuity, ultimately leading to increased efficiency and profitability for your business.
These are quite recently the absolute most normal inquiries we get inquired.
Procurement Outsourcing involve managing all aspects related to category management, including Source to Contract (S2C), Supplier Management, and Procure to Pay (P2P) process. With our Procurement Outsourcing Services, we help our clients reduce costs, increase efficiency, and deliver best-in-class innovations.
Our skill sets around Procurement Consulting Services, our digital toolsets, and our expertise in dashboard preparation are definite advantages when we undertake Procurement Outsourcing for our clients. We help our clients achieve their desired procurement and category management objectives, reduce costs, increase efficiency, and deliver best-in-class innovations.
Using our expertise and capabilities around Dashboards and Tools, as part of our services, we support our clients with Category Management, Strategic Sourcing, Contract Services, Supplier Management, Procurement Operations, and Compliance Management.
EmpoweringCPO implements stringent security safeguards and processes for every information touch-point. Our security process’ drills down to all security aspects related to People, Technology, Physical, and Network infrastructures. We take the confidentiality and security of clients’ information as our topmost priority to build long-term relationships with our clients.
We implement ISO 9001 and ISO 27001, and our security measures include communication and data transfer protocols, physical security measures, people and culture safeguards, legal agreements, and project IP protection measures.
As part of our services, our aim is to support procurement organizations to manage their client group expectations. To address these challenges, our scope includes analyzing detailed spending, transactional, and pricing data, as well as continuously monitoring the supply markets.
Our ongoing deliverables include Compliance Management, where we help our clients stay compliant with regulations and policies.
We ensure that our teams are adequately trained and understand clients’ security requirements. We also provide special training for clients where additional security is required.
Every team dedicated to a particular client or project has its own secure location to save project-related information. Only authenticated access is allowed to the project files and information. This prevents unauthorized access within the company as well.
Our delivery model with strong SLAs for outsourced procurement services is in fact our USP. We are of the opinion that the best value can be derived if a point person responsible for client group management is retained in-house and all activities and deliverables listed above are outsourced to EmpoweringCPO.
These are quite recently the absolute most normal inquiries we get inquired.
A Supplier Diversity Program is a business program that promotes the use of diverse-owned, women-owned, veteran-owned, LGBT, service-disabled veteran-owned, historically underutilized businesses, and small business vendors as suppliers. This process helps to sustain and progressively transform a corporation’s supply chain thus reflecting the demographics of the community in which it operates by recording transactions with diverse suppliers
Having a diverse supplier pool is a major competitive advantage and a powerful business tool. It also provides companies access to support from federal, state, and local government bodies. Supplier Diversity Programs help to increase competition in the process, resulting in cost savings and better business outcomes.
EmpoweringCPO leverages its strong Procurement Intelligence gathering capabilities to help clients locate potential minority suppliers and implement the first 3 steps of the Strategic Sourcing process, which are critical to the success of any Supplier Diversity program. We also provide Supplier Diversity Consulting Services, including program setup, ongoing management and support, diversity vendor databases, and sourcing strategy development.
The Strategic Sourcing steps include generating a portfolio, allocating a percentage of spend or a whole subcategory of spend to be sourced with MWBEs, utilizing national minority supplier databases or internal supplier diversity databases to increase competition, and applying a sourcing strategy based on Strategic Sourcing Gemstone.
Supplier Diversity Best Practices include identifying opportunities to source from diverse suppliers, setting specific and measurable goals, tracking and reporting progress, involving internal stakeholders in the program, and partnering with diverse suppliers for mutual benefit.
EmpoweringCPO helps with the Supplier Diversity Process by providing support for initial program setup, ongoing program management, and developing proposed policies, responsibilities, and procedures. We also help to identify diversity vendors, develop sourcing strategies, and set supplier diversity goals.
Yes, EmpoweringCPO provides reference case studies to demonstrate our experience and expertise in this domain.
Proposed policies, responsibilities, and procedures in Supplier Diversity Programs include guidelines for identifying and selecting diverse suppliers, setting and tracking supplier diversity goals, establishing Tier 2 requirements, and reporting progress to stakeholders.
EmpoweringCPO ensures the success of a Supplier Diversity Program by providing Supplier Diversity Consulting Services, including initial program setup, ongoing management and support, diversity vendor databases, and sourcing strategy development. Our team of research analysts and supplier diversity consultants have the strategic sourcing skills and research capabilities to implement and ensure the program is successful.
The top 15 companies for Supplier Diversity include Accenture, AT&T, Bank of America, Comcast, Delta Air Lines, General Electric, IBM, Intel, JPMorgan Chase, Kellogg Company, Lockheed Martin, Pfizer, Southern California Edison, Target, and Wells Fargo.
These are quite recently the absolute most normal inquiries we get inquired.
With the current level of commitment from all major countries for climate change mitigation, the world is on target to warm by 2.7 degrees centigrade by the end of this century. This may lead to high extreme temperatures, ferocious weather, substantial rise in sea levels, and permanent damage to many ecosystems. Going forward, regulations will be more stringent to ensure voluntary commitments are honored. Procurement organizations worldwide can contribute a lot to this effort, and transitioning into Green Procurement organizations is the only way forward.
EmpoweringCPO can help identify categories that can be challenged in favor of greener options and can also help in selecting the right options and vendors. During the execution of a strategic sourcing project or during ongoing category management, EmpoweringCPO can introduce many procurement interventions to achieve sustainable goals.
The path adopted or option selected can be relatively better, it may not be the greenest, but can be greener compared to the product or service being sourced currently. Start by conducting a thorough spending analysis and prepare a plan for executing sourcing projects with an agenda of improving the sustainability goals of the organization. The categories are identified that should be executed in 4 – 6 phases; each phase is of 6 months.
The criteria used for identifying these categories are based on the following: Environmental or Social impacts are clear and huge; plenty of green alternatives are available; the cost or price of the sustainable product or service is lower or equal compared to that for the current specification; the focus is on categories that can be supplied by local vendors; categories for which Ecolabels are available; and, even if Ecolabels are not available, identifying categories for which International standards and specifications related to sustainability goals are available.
To achieve sustainability goals, the bids are evaluated based on life cycle cost analysis, which takes into consideration the following cost components: all costs associated with purchase like product cost, delivery, installation, and commissioning; operating costs including water, gas, spares, maintenance, employee health, social coverage, etc.; end-of-life costs like decommissioning and removal.
Vendors are evaluated for sustainable procurement based on the Non-Price parameter, along with other questions, their answers to all the sustainability-related questions are also thoroughly reviewed and scored to rank vendors.
Sustainability-related contract performance clauses include clauses related to the use of eco-friendly products, waste reduction, reduction of greenhouse gas emissions, and promoting sustainable practices throughout the supply chain.
EmpoweringCPO can help identify categories that can be challenged in favor of greener options and we can also help in selecting the right options and vendors. During the execution of a strategic sourcing project or during ongoing category management, EmpoweringCPO can introduce many procurement interventions to achieve sustainable goals. We can assist in shortlisting vendors with strong credentials for sustainability, developing sustainability specifications, evaluating vendors based on their sustainability-related answers, and selecting suppliers based on life cycle cost analysis. We can also help in developing implementation and transition plans, contracts, and performance metrics that have sustainability-related clauses.Top of Form
By ensuring that the savings projected or reported during a strategic sourcing project are actually realized, savings compliance tracking helps organizations to save money. It helps identify areas of non-compliance and take corrective action to ensure that the savings are realized.
These are quite recently the absolute most normal inquiries we get inquired.
A procurement dashboard is a visual representation of key procurement metrics and data that provide an at-a-glance view of procurement performance. It is a tool used by procurement professionals to track and monitor procurement activities, identify trends, and make informed decisions.
The importance of a procurement dashboard lies in its ability to enable procurement teams to monitor and evaluate their performance, pinpoint areas in need of improvement, and accomplish their objectives and key performance indicators (KPIs). By providing real-time access to data and metrics, a procurement dashboard facilitates data-driven decision-making, enhances supplier performance, and drives cost savings for the organization.
EmpoweringCPO provides a diverse range of procurement dashboards and tools that cater to the specific needs of organizations. From a procurement KPI dashboard that helps track and measure procurement performance, to a spend analytics dashboard that provides insights into spending patterns, EmpoweringCPO equips procurement professionals with powerful tools to make informed decisions. In addition, their opportunity assessment dashboard helps identify areas for improvement, while the compliance management tool and supplier risk management tool ensure compliance with regulations and minimize potential risks. These cutting-edge procurement dashboards and tools empower organizations to optimize their procurement processes and drive success.
A procurement KPI dashboard is a visual tool that displays key performance indicators (KPIs) for measuring and tracking procurement performance. It provides a comprehensive overview of the performance metrics that are important for the procurement function, enabling procurement professionals to monitor and evaluate their progress towards meeting their goals.
A spend analytics dashboard is a visual tool that provides insights into an organization’s spending patterns and helps procurement professionals make informed decisions. It allows organizations to track and analyze spending data across various categories, suppliers, departments, and time periods, providing a comprehensive view of their expenditure.
An opportunity assessment dashboard is a visual tool that helps procurement professionals identify areas of opportunity and improvement in their procurement processes. It allows organizations to evaluate their procurement practices and identify areas where they can improve efficiency, reduce costs, or optimize supplier performance.
A compliance management tool is a software application designed to help organizations manage and track their compliance with relevant laws, regulations, and industry standards. It enables procurement professionals to ensure that their procurement activities are in compliance with various rules and regulations, minimizing the risk of legal or regulatory violations.
A supplier risk management tool is a software application designed to help organizations identify, assess, and manage risks associated with their suppliers. It enables procurement professionals to evaluate supplier risks and take proactive measures to mitigate them, minimizing the potential for supply chain disruptions and other negative impacts on the organization.
At EmpoweringCPO, we have the expertise to develop spend dashboards and tools using various technologies, based on the specific preferences of our clients. We use top-rated Business Intelligence and Dashboard platforms that are recognized as Leaders in their respective quadrants, ensuring that our clients receive the best user experience and insights possible. Our goal is to create highly customized and effective spend dashboards and tools that meet the unique needs of each client and help them achieve their procurement objectives.
EmpoweringCPO’s team of experienced sourcing professionals, focus on outstanding client service, and ability to achieve results sets us apart from other providers.
Spend analysis is the process of collecting, cleansing, classifying, and analyzing an organization’s spend data to gain insights into its procurement activities. It involves identifying and categorizing all the purchases made by an organization, including direct and indirect spend, and analyzing the data to identify patterns, trends, and opportunities for cost savings and process improvements.
Taxonomy preparation is the process of defining and creating a standardized classification system for spend data in a spend analysis project. It involves establishing a consistent set of categories and subcategories for spend data that can be used to analyze procurement activities across an organization.
Data classification is the process of categorizing data into different groups or classes based on certain characteristics, such as its content, sensitivity, or usage. It involves organizing and labeling data according to a predefined set of categories or criteria to facilitate its management, protection, and sharing.
Data analysis is the process of inspecting, cleaning, transforming, and modeling data to extract meaningful insights and information. It involves using statistical and computational methods to identify patterns, trends, and relationships in data, and to draw conclusions and make informed decisions based on the analysis.
An interactive visual dashboard is a graphical user interface that displays real-time data in a way that allows users to explore and analyze the data interactively. It typically presents data using visual elements such as charts, graphs, and tables, and enables users to interact with the data by selecting different variables, adjusting filters, and drilling down into the details.
A sourcing roadmap or implementation plan is a strategic plan that outlines the steps and actions necessary to implement a sourcing strategy or initiative. It is a detailed roadmap that identifies the specific actions required to achieve the goals and objectives of the sourcing strategy, and provides a timeline and budget for the implementation.
The outcome of a strategic sourcing project is the successful implementation of a sourcing strategy that achieves the desired goals and objectives of the project. This typically includes a range of outcomes, including cost savings, improved supplier relationships, increased efficiencies, and enhanced product or service quality.
Spend under management is a metric used by procurement teams to track the percentage of an organization’s total spend that is being actively managed by the procurement function. It refers to the portion of an organization’s spend that is being actively monitored, analyzed, and controlled by the procurement team through strategic sourcing, contract management, and supplier relationship management.
CSR (Corporate Social Responsibility) goals in procurement are objectives set by organizations to ensure that their procurement practices align with their values and commitment to sustainability, ethical business practices, and social responsibility.
Stakeholder metrics in procurement are a set of key performance indicators (KPIs) that are used to measure and evaluate the performance of procurement activities and their impact on various stakeholders, both internal and external to the organization.
These are quite recently the absolute most normal inquiries we get inquired.
Our procurement market intelligence reports can support your procurement department and assist in making more holistic and unbiased buying decisions.
We currently have around 620 different reports in our repository.
We offer reports for both Direct and Indirect categories, covering various industries and countries.
EmpoweringCPO’s Procurement Intelligence report includes a category profile document that lists information about the products or services, market size and growth rate, manufacturing process, critical-to-quality factors, and more. The report also includes an industry insights section, a supply base profile section, a market indicators section, and a competitive analysis section. EmpoweringCPO’s Procurement Intelligence report also includes a proposed reporting format and client engagement process management.
Our reports are updated on a regular basis to ensure that the information provided is up-to-date and relevant.
Yes, you can email us and one of our strategic sourcing consultants will promptly schedule an appointment with you to understand your needs and create a custom report.
You can purchase and download the reports directly from our website.
The reports come in various formats like PDF, Excel, Word, and PowerPoint.
Yes, you can request a sample report by contacting us through the email provided on the website.
These are quite recently the absolute most normal inquiries we get inquired.
We share your commitment to a greener future. Our sustainable procurement practices ensure not just cost efficiency, but also ecological responsibility. Together, we’ll make choices that benefit your organization and our planet.
Knowledge is the compass for strategic procurement. Leveraging procurement analytics, intelligence, and custom dashboards, we bring clarity and foresight into your procurement processes. With us, you’re not just making decisions; you’re crafting a vision.
If you need to speak to us about a general query fill in the form below and we will call you back within the same working day.
Compliance management is very critical as otherwise the procurement organization may run into a scenario where there is a huge gap between realized savings and reported savings. Many procurement functions estimate large savings numbers when contracts are signed. They also invest significant time and effort in negotiating contracts for necessary goods and services, only to have a third or more of their purchasing dollars flow outside those deals. Some of the obvious fall-outs of non-compliance and maverick purchases are:
As compared to the current contract that was finalized after the sourcing process, the tool helps in tracking:
The objective of this tool is to ensure that the orders are placed only with the vendors that were shortlisted after the sourcing process and at the same price that was agreed upon and negotiated during and after the strategic sourcing process.
