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Spend Analysis: The Foundation of Strategic Cost Management
Organizations today are spending as much as 60 percent of their revenue acquiring the goods and services needed to support their business. Such large procurement budgets and a reliance on numerous suppliers and hundreds to thousands of products can make business goals increasingly complex, particularly when you have limited visibility to your procurement expenses or the actual performance of your vendors.
Today’s manufacturers require high-level strategic sourcing plans that allow them to minimize supplier risk, create and maintain effective supplier relationships, monitor the quality of materials received from suppliers, and leverage supplier information to negotiate better contracts.
Silvon Stratum offers the visibility and insight required to achieve these sourcing goals.
Stratum gives you the ability to analyze and manage the day-to-day performance of your purchasing operations, including vendor activity and your current and future inventory positions based on expected receipts. The solution allows you to improve your supplier relationships using robust analytics designed to track, evaluate and flag delivery and fill rates that fall below acceptable levels. It lets you measure the performance of your buyers by lead times and pricing variances. Plus, it allows you to track your established budgets to ensure that your purchase prices are not trending upward.
With Stratum, you gain new cost structure insights and faster, most efficient sourcing cycles through a single view of purchasing activities across the enterprise together with on-demand access to timely spend data.
The Stratum applications used to address this solution area:
Stratum SRM Analytics
(SRM-A)