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Procurement Analytics and Data-Driven Decision Making Program

May 19 - May 23

Program Overview 

The Procurement Analytics and Data-Driven Decision Making Program is designed for procurement professionals who want to leverage data analytics to optimize procurement strategies, improve decision-making, and drive efficiency across the supply chain. This 5-day program will equip participants with the knowledge and skills to utilize data analytics tools, interpret procurement data, and implement actionable insights that enhance procurement performance and deliver measurable value to the organization.

The program combines practical case studies, data analysis exercises, and hands-on tools to provide participants with the knowledge to apply data-driven strategies to procurement activities.


Learning Objectives

By the end of the program, participants will:

  1. Understand the role of analytics in procurement and how to leverage data for improved decision-making.
  2. Learn how to collect, analyze, and interpret procurement data using key data analytics techniques and tools.
  3. Develop the skills to optimize procurement strategies through the use of spend analysis, supplier performance metrics, and predictive analytics.
  4. Master the application of key data visualization techniques to communicate procurement insights effectively to stakeholders.
  5. Gain a strategic approach to data-driven decision-making in procurement, aligning procurement goals with organizational objectives and ensuring continuous improvement.

Program Structure

Day 1: Introduction to Procurement Analytics

  • Objectives:
    • Understand the foundational concepts of procurement analytics.
    • Learn about the different types of procurement data and how they drive decision-making.
  • Topics Covered:
    • What is Procurement Analytics?:
      • The role of analytics in modern procurement practices.
      • Types of procurement data: spend data, supplier data, contract data, and operational data.
    • Data Collection Methods:
      • How to collect procurement data from internal and external sources.
      • Key data sources: ERP systems, supplier databases, and market intelligence tools.
    • Data Quality and Integrity:
      • Ensuring the quality and accuracy of procurement data.
      • Best practices for data governance and data cleansing.
  • Activity:
    • Data Collection Exercise: Participants will work in groups to identify and map out data sources for a procurement function and create a data collection plan.
  • Assignment:
    • Develop a data collection framework for your organization’s procurement activities.

Day 2: Data Analytics Tools and Techniques for Procurement

  • Objectives:
    • Learn the key tools and techniques for analyzing procurement data.
    • Understand how to use analytics to identify trends, patterns, and opportunities in procurement.
  • Topics Covered:
    • Introduction to Procurement Analytics Tools:
      • Overview of tools like Excel, Power BI, Tableau, and procurement-specific analytics platforms.
      • How to use these tools for basic data analysis, trend analysis, and predictive modeling.
    • Spend Analysis:
      • Techniques for analyzing spend data and identifying cost-saving opportunities.
      • How to categorize and segment spend data (e.g., by supplier, category, region).
    • Supplier Performance Analytics:
      • Key performance indicators (KPIs) to measure supplier performance.
      • Analyzing supplier data to evaluate quality, delivery, and compliance.
  • Activity:
    • Spend Analysis Workshop: Participants will use a sample dataset to perform a spend analysis and identify cost reduction opportunities.
  • Assignment:
    • Conduct a spend analysis for your organization using available data and identify key insights.

Day 3: Advanced Analytics and Predictive Modeling in Procurement

  • Objectives:
    • Learn how to apply advanced data analytics techniques, including predictive modeling, to improve procurement decision-making.
    • Develop skills to forecast demand, optimize supplier selection, and predict market trends.
  • Topics Covered:
    • Predictive Analytics in Procurement:
      • Overview of predictive analytics and its application in procurement.
      • Tools and techniques for forecasting demand, optimizing inventory, and predicting supplier performance.
    • Data-Driven Supplier Selection:
      • Using data to assess potential suppliers and make informed sourcing decisions.
      • Techniques for supplier risk assessment and strategic supplier management.
    • Demand Forecasting and Inventory Optimization:
      • Forecasting demand using historical procurement data.
      • How to use data analytics to optimize inventory levels and reduce stockouts.
  • Activity:
    • Predictive Modeling Exercise: Participants will use historical procurement data to build a demand forecast model and analyze supplier risk.
  • Assignment:
    • Develop a predictive model to forecast procurement needs in your organization.

Day 4: Data Visualization and Reporting for Procurement Insights

  • Objectives:
    • Learn how to communicate procurement insights effectively using data visualization techniques.
    • Understand how to create reports that influence decision-makers and drive procurement strategy.
  • Topics Covered:
    • Introduction to Data Visualization:
      • Overview of data visualization principles and tools.
      • How to use tools like Power BI, Tableau, and Excel to create impactful visualizations.
    • Key Procurement Metrics and KPIs:
      • Selecting the right metrics to track procurement performance.
      • How to visualize key procurement data points (e.g., cost savings, supplier performance, delivery times).
    • Effective Reporting Techniques:
      • Creating dashboards and reports for procurement stakeholders.
      • How to present data in a way that drives actionable insights.
  • Activity:
    • Dashboard Creation Exercise: Participants will design a procurement dashboard using a data visualization tool, showcasing key procurement metrics.
  • Assignment:
    • Create a report on procurement performance using visualization techniques and present it to your team.

Day 5: Data-Driven Decision Making and Continuous Improvement

  • Objectives:
    • Understand how to integrate data-driven decision-making into procurement strategies.
    • Learn how to continuously improve procurement processes using analytics.
  • Topics Covered:
    • Data-Driven Decision Making in Procurement:
      • How to align procurement goals with organizational strategy using data.
      • Case studies of successful data-driven procurement decisions.
    • Continuous Improvement Through Analytics:
      • Using analytics to continuously assess and improve procurement performance.
      • Techniques for creating a data-driven culture within the procurement team.
    • Ethics and Compliance in Procurement Analytics:
      • Understanding the ethical considerations when using procurement data.
      • Ensuring compliance with data privacy regulations (e.g., GDPR, CCPA).
  • Activity:
    • Strategic Decision-Making Workshop: Participants will work in groups to develop a data-driven procurement strategy based on real-world case studies.
  • Assignment:
    • Develop an action plan for integrating data-driven decision-making into your organization’s procurement strategy.

Program Delivery

  • Format:
    • In-person or virtual (interactive sessions, hands-on exercises, case studies, group discussions, data analysis workshops).
  • Duration:
    • 5 full days (6-8 hours per day).
  • Target Audience:
    • Procurement managers, supply chain analysts, data analysts, procurement directors, and business leaders responsible for procurement strategy.

Certification

Upon successful completion of the program, participants will receive a Certificate in Procurement Analytics and Data-Driven Decision Making, demonstrating their ability to leverage data analytics in optimizing procurement processes and making informed decisions.

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Details

Start:
May 19
End:
May 23
Cost:
Ksh130000
Event Category:
Website:
www.globopointconsultants.com

Venue

Arusha
Tanzania, United Republic of + Google Map

Organizer

Globopoint Consultants Limited
Phone
0722103961
Email
info@globopointconsultants.com
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