Sourcing Analytics Definition
Sourcing analytics is the process of collecting and analyzing data to improve sourcing decisions. It can be used to track supplier performance, optimize supply chain operations, and reduce costs.
Sourcing analytics can help organizations make better sourcing decisions by providing visibility into supplier performance, cost trends, and supply chain risks. By tracking this data over time, organizations can identify problems early and take corrective action to avoid costly mistakes.
Organizations can use sourcing analytics to:
-Monitor supplier performance
-Optimize supply chain operations
-Reduce costs