Are you as good at using Excel as world-class purchasing professionals are?

PurchTips edition #2

 

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Purchaser's Excel Competency Checklist

  • I know how to use Excel to compare bids among suppliers
  • I know how to format a spreadsheet including use of colors, borders, font properties, cell alignment, etc.
  • I know how to develop Should Cost Models so that I can estimate the cost of a product or service before I receive bids from suppliers
  • I know how to use formulas in Excel to add, subtract, multiply, and divide, including those cases where several cells are involved in a complex calculation
  • I know how to develop weighted average supplier scorecards that allow me to place statistical emphasis on more important elements of suppliers' performance or proposals
  • I know how to use absolute and relative references to make calculations easier
  • I know how to use Excel's decision support features to automatically answer a question
  • I know how to use functions such as those that can automatically tell me my lowest bid in a series of bids
  • I know how to create bar charts to visually compare bids among multiple suppliers
  • I know how to create line charts to monitor a supplier's performance over time
  • I know how to create pie charts to categorize and analyze spending
  • I know how to use sorting and subtotaling to organize and analyze a large amount of spend data
  • I know how to create PivotTables to summarize purchasing patterns
  • I know how to use the Goal Seek command
  • I know how to create a Target Pricing Model that supports my negotiation strategy development

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Members of the NLPA get more than just articles like this by email. As a member, you also get access to:

  • The Procurement Training & Certification Starter Kit
  • The latest Purchasing & Supply Management Salaries Report
  • Leading-Edge Supply Management™ magazine
  • Members-only webinars 10x per year
  • And more!

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