Data-Driven Procurement Decision Making
Data-Driven Procurement Decision Making is the ability to use quantitative and qualitative data in predictive analytics, statistical analysis and forecasting to generate strategic purchasing insights, thereby informing procurement decisions, optimising sourcing and increasing efficiency in supply chain management.
Level 1: Emerging
At an emerging level, you are just beginning to leverage data to inform procurement decisions. You’re using basic analytic tools, seeking correlation and trends in data to support your choices.
Level 2: Proficient
At a proficient level you are able to analyze and interpret data to make strategic procurement decisions. You can effectively leverage analytics to optimize costs, supplier relationships, and overall procurement performance.
Level 3: Advanced
At an advanced level you are able to make strategic procurement decisions based on extensive data analysis, utilizing advanced tools and technologies to optimize cost savings, mitigate risks, and drive overall procurement excellence.
