Good old spend analysis. It may not seem big enough or glamorous enough to get much attention in today’s broad-focused Procure-to-Pay, Source-to-Settle world. To procurement professionals however, who have depended upon their spend analysis solutions for years, it is hard to imagine why the rest of the organization is not clamoring for access to its data and analytics.
This week's eSourcing Wiki-Wednesday topic is Modern Strategies for Supply Risk Management. An excerpt of the article is below, but you can also read the full article on the eSourcing Wiki. Have something to add? The eSourcing Wiki is an open content community and you are invited to register and contribute to this resource, which benefits our whole professional community.
If you are interested in more, read today's post on 'The Point': More Strategies for Supply Chain Resilience.
The ISM-New York Report on Business is released on the second business day of each month at 9:45 AM Eastern. Buyers Meeting Point has been following the ISM reports on business for a while now, helping you apply information from the indexes (which is collected from procurement professionals) to your own work. If you have never read the report, it can take some adjustment. We boil each report down to the most basic and usable components. The most important thing to keep in mind when reading this report is that no one number represents the findings of the report; each piece of data only has value when considered as part of a trend - relative to the month(s) or year before.
The full October ISM-NY Report on Business is available on ISM New York's site as a download.