Purchasing Module

Overview

The Purchasing Team of a manufacturing organization strives to get the best deals from the vendors and aims to stock the parts/materials in time for the production team. With hundreds of vendors and thousands of parts/materials, it is imperative they have information to identify bottlenecks in Cost, Time & Quality

Spend Analysis

The first step in successful negotiations is to prepare a fact base with information on prior purchases. Organizations where Purchasing is centralized need better visibility of demand across sites so that they can optimize the order size and reduce costs.

Questions that your purchasing team should have answers to include:

How does the purchasing spend compare across years or months by items and product codes?
Are you able to easily identify the Items where the cost has increased from previous year?
What are the purchase orders where the no. of days between the Order Date and Due Date is less than the lead time for that order?

Vendor Management

While the relationship with a vendor is qualitative and personable, important conclusions about vendor performance should be based on data, rather than feelings. Since advanced analytics is especially useful in isolating vendor performance within a cluster, it can help eliminate biases from the evaluation. Using IntelliDash it is possible to analyze:

A Category specific rating scale for vendors based on the products supplied.
On-time delivery Analysis by vendor and item
Quality Rating for the Vendor based on incoming inspections and product scrap quantities from manufacturing floor
A Comprehensive scorecard that can be emailed to vendors that considers corrective action, quality and on-time delivery.
Are you able to compare monthly Deliveries & Pricing numbers across vendors to facilitate contract decisions?

Yearly Planning

Advanced analytics can be particularly helpful in analyzing purchasing data to support a comprehensive sourcing strategy. Cost Savings in Procurement, improvements in overall on-time delivery, Vendor Reduction and Concentration to facilitate strategic sourcing from fewer vendors with stronger relationships are current trends in procurement.

Purchasing Cost Savings can be used to analyze savings year over year.

Analyzing purchases by item/SKU to compare vendors, costs and delivery information.
What should be the optimum Safety Stock for an item based on your historical data?

What does IntelliDash’s Purchasing Module offer?

IntelliDash’s Purchasing Module gives you answers to these questions and much more without having to worry about data integrity, accessibility and the huge costs typically involved in building the necessary IT infrastructure for data analytics. The Purchasing Module comes with an abundance of pre-built dashboards. A summary of the Purchasing dashboards on IntelliDash is provided below:

Pre-built dashboards

YoY & MoM Qty Purchased
Purchasing Backlog
Late Purchase Orders
Supplier Scorecard
Purchasing Cost Savings

If you are interested in knowing more about the purchasing and inventory Module on IntelliDash, please connect with us on live chat or click below to schedule a demo

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