Are you reviewing to become a Certified Professional in Supply Chain Management? CPSM
1B3 covers 7 questions out of 32 questions in Cost and Finance, the second part of CPSM
Exam 1. Thus, it is important for procurement professionals to have an understanding about spend
analysis. Supply Chain Leaders and organizations should use spend analysis
to control the trade power, lessen costs, offer improved management and oversight of trader
, and develop an informed procurement scheme. Moreover, spend analysis
also includes the identification, grouping, cleansing, and analysis of all spend data for the goods and services purchased for
the company. Spend Analysis
helps organizations to have a clear and detailed view of current, past and forecasted expenditures. Spend analysis can be used to make future management decisions by providing answers to the questions:
- What was bought?
- When was it bought?
- Where was it purchased?
- How many suppliers were used?
- How much money was spent and paid for the item?
You can take your organization to the next lever by generating a strategic action based on the hard data from the spend analysis. This strategic action should connect to your company or department’s mission statement. Search for clues about where your organization wants to go as you weigh your options of what to do with the spend analysis data. ERP Systems
Getting the “huge amount of data” you need is easy as long as you have your ERP System. Before ERP systems came along, it was hard to get data
and analyze where your money goes. SAP and Oracle are just some of data mining modules that are used to analyze and retrieve spend data. Do you want to pass the CPSM Exam without a fuss? You can get your CPSM Review materials from us, Jack Quinn Solutions, LLC.
Jack Quinn Solutions, LLC provides you with trainings and skill development for you to achieve a better career opportunity! We can train you and bring out the best in you. If you want to have a salary increase or become a leader in your company, all you have to do is visit www.cpsmtraining.com
and participate in our review courses!