Procurement & Sourcing Webinars by Bid Ops

Thought Leadership and Education For Strategic Sourcing and Procurement Professionals Delivered Directly To You.

Savings Forecasts in Real Time: The Business Impact of Procurement Operations

Until now, procurement operations and savings forecasting has been mostly guesswork and inference, based on a combination of historical spend and market trends. However, there is one simple and often overlooked method of forecasting savings by department, buyer and category: Quotes.

Quotes at most companies live in email-and-spreadsheets and in data silos, remaining inaccessible until Purchase Orders are issued. Sourcing & Procurement Operations teams now have the power to generate real-time savings forecasts, set targets and catch costly exceptions before they impact your Profit & Loss (P&L).

This webinar will explore how top procurement teams are able to use real-time data in Quotes and Purchase Requests to forecast savings on Purchase Orders, to proactively identify costly exceptions and to consolidate spend with preferred suppliers, before a Purchase Order is issued. Using leaderboards and micro-bonuses, procurement teams can now track savings target attainment in real time. Procurement teams are now able to motivate buyers to exceed targets for operational excellence, including supplier consolidation, on-contract spend attainment, compliant payment terms and lead times. In this webinar, the panelists will share insights into the future of procurement forecasting, including:

  • How to accurately forecast savings in real-time using current quote data
  • How to leverage quote data to set targets for procurement operations excellence
  • Best practices for motivating your procurement team to exceed savings targets

Fill out the form below to sign up for the webinar on July 7th at 10 AM PT

Past Webinars Available On Demand