Business Intelligence (BI) is the set of technologies for collecting, analyzing, monitoring and sharing large volumes of data. In purchasing, the use of BI allows you to outline relevant strategies1919 for the sector and make better decisions.
BI plays a very important role in the entire purchasing operation, since the amount of information and processes in the area is often voluminous. The technology increases the capacity for data analysis, so that professionals can make decisions based on facts and not assumptions.
BI also offers the possibility of monitoring team productivity and bringing more efficiency to people management. Another advantage is its contribution to information transparency, strengthening compliance in transactions with suppliers.
The purchasing department has become a key player for companies seeking growth and profitability. Therefore, its strategy is considered relevant and fundamental to achieving the results that are business objectives.
Below, check out the main benefits of BI and how the technology can be applied in practice in your B2B purchasing routine:
BI in practice: how to apply it in your daily purchasing routine
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Data collection and organization
At this stage, objectives and Purchasing KPIs must be well defined. This information will serve as a basis for evaluating the area's performance. To facilitate research, all purchasing data should be concentrated in a single database, such as a e-Procurement solution. One way to do this is to classify the data into different groups of information: material type, quantity, price, suppliers, etc.
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Data analysis
After feeding the database, that is, concentrating the purchasing processes in a single solution, it is necessary to define metrics and create control panels to facilitate the visualization of data and interpretation of information. For this reason, analytical thinking is one of the Skills most important for the purchasing professional.
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Sharing data
Reports extracted from the solution can be shared with people involved in the purchasing process, such as managers and suppliers, which contributes to faster and more accurate decisions. In addition, the development of the BI strategy must be monitored and improved, according to the changes and needs of the companies.
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