I hope that you have enjoyed the article “8 Proactive Procurement Questions.”
Spend analysis solutions are some of the greatest tools available for today’s procurement professional. And they keep getting better at helping procurement professionals identify where the cost savings opportunities are.
But they should never become a procurement professional’s only source of input for a cost savings strategy.
Oh, sure, they are great for calculating demand patterns based on historical information. And, yes, much of an organization’s short-term future demand is essentially a continuation of its recent history.
But what spend analysis solutions can’t do is tell what decisions that influential (and unpredictable) human beings are going to make that just might make any computer-generated trend line be way off from reality. Therefore, spend analysis and internal customer interviews should always be used together for a harmonious prediction of future demand, one never replacing the other.
Just like texting and social media have made it difficult for today’s teens to communicate comfortably in a face-to-face environment, spend analysis solutions made interviewing stakeholders somewhat of a lost art that needs to be rekindled. Hopefully, the eight questions in the article can serve to get those valuable conversations started and to ignite some exploration into how collaboration can lead to more accurate forecasting, a better-aligned procurement strategy, and maximum positive bottom-line impact.