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