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Spend analysis Cost Analysis Spend analysis VS Cost Analysis Procurement Analysis Procurement
Procurement analysis is an essential exercise for any business which is engaged in Procurement Process to improve its bottom line and customers satisfaction.
Basically it is a systematic examination of purchasing activities and identifying areas where businesses can save the costs and develop strategies to increase efficiency and productivity and make informed decisions about what products and services to procure, identify their potential costs, risks, and benefits associated with specific purchases, as well as inform decision-making on how to allocate resources most effectively and suppliers selection and their performance.
There are several different types of procurement analyses that can be used in businesses but today I am going to discuss two main analyses, since these both concepts are very important with different focus on in the Procurement Process.
Cost Analysis
Spend Analysis
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