To address these challenges, we developed a procurement analytics dashboard that provided real-time visibility into the procurement operations and enabled the procurement team to make data-driven decisions.
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Supplier performance metrics: We continuously analyzed the supplier performance metrics such as on-time delivery, quality, and cost, enabling the client to identify the bottlenecks in the supply chain.
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Inventory management: The procurement analytics dashboard provided real-time visibility into inventory levels and allowed our client to identify potential shortages and excess inventory, enabling them to take corrective action.
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Customizable reports: The dashboard allowed the client to create custom reports, enabling them to analyze the spend analytics by category, supplier, location, and other related parameters.
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Automated forecasting: Our experts devised and incorporated machine learning algorithms to forecast demand and inventory levels, reducing the reliance on manual processes and improving forecast accuracy.
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Automated reporting: Real-time automated reports on procurement performance metrics reduced huge amounts of time the procurement team was otherwise spent on manual reporting.
Overall, we encouraged the cross-functional collaboration of decision-making with real-time information.
