PROCUREMENT ANALYTICS REPORTS USING MICROSOFT POWERBI

The Procurement department is a key unit of any company, irrespective of the industry. Procurement is not only limited to product based companies in terms of raw materials, but it also takes into account the services that a company outsources to other vendors. For example, all the laptops that you use at your work has been procured from some vendor. The paradigm of Procurement is vast. The purchasing department should have optimized strategies that makes the procurement process smooth and efficient!

But how do we optimize these processes?

Procurement Analytics, to the rescue! Procurement Analytics takes into account procurement data from various sources and drills deep into the data to extract valuable and actionable insights. Organizations can leverage procurement analytics to make data driven purchasing decisions and manage effective vendor relationships.

Procurement Analysis can be divided into three broad categories:

Vendor Analysis: Vendor Analysis gives a better solution on selecting the best suppliers from a range of other competitive suppliers. Is your organization choosing Top tier suppliers? Is your vendor providing the best price and discount than others?

Spend Analysis: One of the key factor in business is cost saving and it becomes important to optimize the spent. Analysis around spends and discounts across months are helpful to understand when your organisation can plan for purchases.

Item Analysis: You can closely look into the commodities being purchased and the various suppliers supplying the same commodity. This gives an organisation a better understanding on the cost incurred and discount offered by the suppliers.

If you haven’t optimised your Procurement strategies yet, below is a glimpse on how you can go about it!

 

Procurement analytics reports and dashboards – How do I go about doing it?

Below, we’ll see a short video demo on how PowerBI, a growing Microsoft Business intelligence tool, has been used on some sample procurement data, to give insights to the business about vendor, supplier and products. The demo walks through multiple reports and drill downs to give the organization deeper information. It also shows the ease of use of a tool like PowerBI with huge data and both simple and complex reports.

The above report gives an overview about the Total Spend of an organisation on procurement. It gives an understanding of the various vendors that this organisation outsources its products and services and the amount each vendor charges for the same products and services. This report also gives an essence of the Savings attained due to discounts offered by various vendors and the months during which the vendors offer discounts. This will help the organisation to plan its procurement months in order to achieve maximum savings and lesser spend.

This report further gives an overview of the items that the company spends the most. Drilling down further gives the details of the items being purchased and the respective vendors related to the items. It gives a better understanding about the vendors that gives better price for the same item. This way the organisation is able to select the most profitable vendor!!

 

Enhancing the reports

In our next case study, we will talk about how such reports can be extended to have elements of predictive analytics and machine learning which will further help the business use these insights to drive more productivity and reach out to customers better. Systems such as recommendations, price prediction, understanding and planning product procurement and others can enhance the usability and effectiveness of such reports.

Have a report to build?

We are a data and technology driven team helping organization with solutions to enhance productivity and business. We can help you build reports and dashboards with your data and train your team into using them and taking it further.

RETAIL SALES ANALYTICS REPORTS USING MICROSOFT POWERBI

Retail sales involves the purchase of finished goods by the customer. For example, you walking into a Tesco or a Fairprice and buying a carton of milk. Today, with the rapid increase in the amount of data collected from different touchpoints in retail sales, there is an increasing demand for this data to be used to derive actionable inferences and insights which can help both the business and the customer. This in technical jargon is what we term – analytics.

Sales analytics is a process to identify, model, understand and predict sales trends and sales results while helping in the understanding of these trends and finding improvement points. It is used to determine the success or failure of sales activities in a business and also to allow them to prepare for the future.

Every sales activity is measurable. There is more data than ever before. In order to have control over sales performance, use sales analytics and the right tools like PowerBI!

Where does the data come in from?

Data comes in from various sources such as application transactions, surveys and internal applications. All these are collected and analyzed to find relationships and opportunities that may be used by the organization.

Sales analytics reports and dashboards – How do I go about doing it?

Below, we’ll see a short video demo on how PowerBI, a growing Microsoft Business intelligence tool, has been used on some sample sales data, to give insights to the business about sales, products and customers. The sample data consists of sales transactions captured by POS systems based on customer transactions and using this data, the demo walks through multiple reports and drill downs to give the organization deeper information. It also shows the ease of use of a tool like PowerBI with huge data and both simple and complex reports.

Why monitor sales analytics?

Enhancing the reports

In our next case study, we will talk about how such reports can be extended to have elements of predictive analytics and machine learning which will further help the business use these insights to drive sales and reach out to customers better. Systems such as recommendation, stock prediction and others can enhance the usability and effectiveness of such reports.

 

Have a report to build?

We are a data and technology driven team helping organization with solutions to enhance productivity and business. We can help you build reports and dashboards with your data and train your team into using them and taking it further.