Data Analysis / Business Intelligence

The objective of data analysis is for procurement to build and gain sufficient business intelligence and forward insight into the decision making process in order to minimise risk and increase competitiveness. This forms part of the supplier management strategy by understanding the present, predicting the future and prescribing actions.

CIPS Procurement Content

Related concepts

Costing and Pricing – What the Buyer Needs to Know

Wheat prices have hit an all-time high. The International Grain Council claims that prices will remain volatile due to supply uncertainties and developments in financial, energy and...

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Commercial Intelligence

Business continuity plans must ... look beyond first-tier suppliers and further into the web of supply (Felsted, 2012).

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