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How spend analytics can help mitigate risk & surface savings opportunities
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Setting up systems to monitor supply risk management and supply chain visibility can preempt future performance issues that your organization may encounter. Predictive financial performance monitoring tools are often of value to companies monitoring the activities of their suppliers – indeed, recently one large global manufacturer was able to prepare for the impending bankruptcy of a major supplier due to their predictive analysis, indicating that the supplier was developing cash flow issues. Related: Supply risk...
When it comes to services spend, many organizations find it difficult to manage. CPO Innovation reports that “services spending can range from almost 50% to 80% of what firms buy from outside vendors.”
Xeeva welcomes this guest post from Matthew York, Senior Research Analyst, Ardent Partners. For the past two decades, the modern manufacturing facility has become highly automated, employing robots to assemble automobiles and other large and complex consumer goods – sometimes without any direct human intervention (i.e., “lights-out manufacturing”, a hallmark of Industry 4.0). But as these robots and robotically-driven assembly lines age, they need regular maintenance, repair, and operating (MRO) services and supplies. Service calls must...