Spend Analysis
Spend Analysis is a critical procurement capability that involves assessing and managing company expenditure. This includes the ability to identify buying trends, evaluate supplier performance, and uncover saving opportunities. Effective Spend Analysis improves cost efficiency and supports informed decision-making in procurement planning.
Level 1: Emerging
At a foundational level you are able to gather basic spend data and follow set processes to help organize procurement information. You support your team by accurately recording expenditure and assisting with simple spend reports. Your work helps ensure reliable data that others use to spot trends and support informed planning.
Level 2: Proficient
At a developing level you are starting to gather and organize spend data to spot basic trends and patterns in procurement activities. You use simple tools to review supplier performance and highlight potential areas for cost savings. Your analysis supports routine purchasing decisions and helps your team make more informed choices.
Level 3: Advanced
At a proficient level you are able to independently analyze company spend data to spot patterns, assess supplier performance, and highlight areas for savings. You use these insights to guide procurement plans and improve value for money. Your work enables your team to make better-informed purchasing decisions that benefit the whole organization.
