Gain insights into the possibilities that data analytics can provide.
Supply chains are more global, significantly more complex, and subject to greater disruptions. Data used by procurement professionals is typically historic and doesn't provide them with a complete picture of the performance of their supplier network. As a result, they are often surprised by failures in performance by that network which impacts cost, customer satisfaction, and quality. Data analytics, while not a new topic, is an evolving field. Procurement professionals can benefit from a well-thought-through plan to apply new and existing technologies to help them better understand real-time network performance and the performance of their primary and secondary suppliers. Predictive analytics allows procurement professionals to anticipate performance gaps and respond sooner to them. Every company can build upon a core set of analytics to model the needs of its supply chain. This webinar will provide procurement professionals with insights into the possibilities that data analytics can provide for their function.
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Key Elements of a Successful Procurement Process
- A Most Important Goal
- Procurement Strategy That Supports the Business Strategy
- Measurable Objectives
- Leveraging Technology
- Risk Mitigation
- Value Creation
Relationship Between Data Analytics and Procurement
- Key Objectives: Customer Experience, Operational Efficiency, Predictive Modeling
- Identification of Operating Gaps
- Risk Management
- Network Optimization
- Quality
Applications of Data Analytics
- Supplier Assessment
- Governance
- Total Cost of Ownership
- Cost Reduction Tracking
- Real-Time Reporting
- Network Modeling
- Demand Forecasting and Siop - Sales, Inventory, Operations Planning
- Total Cost of Ownership Modeling
Data Analytics
- Ownership
- Acquiring the Right Data
- Leveraging Technology
- Use of IoT and AI
- Network Modeling
Expected Outcomes
- Lower Cost
- Improved Efficiency
- Reduced Working Capital Requirements
- Value Creation
- Resiliency and Disruption Management
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on November 7, 2023.
Call 1-866-352-9540 for further credit information.
- ISM 1.0
- Participants who successfully complete this program will receive 1.0 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Jim Gitney
Group50
- Founder and CEO of Group50 Consulting, a Supply Chain Consulting Firm that provides Supply Chain Management Consulting and Supply Chain Management Solutions to manufacturing companies
- Considered a strategy, operations, and supply chain subject matter expert with over 30 years of experience in world-class companies ranging from start-ups to Fortune 50 companies including GE, Black & Decker, Sunbeam, Rain Bird, and Pankl Aerospace
- Has extensive experience in running large global operations and working with boards, business owners, and executives on developing and implementing transformative strategic initiatives including Mergers and Acquisitions, integration, and lean supply chain management which encompasses business process engineering and sustainable continuous improvement initiatives
- Member of the board of advisers for Thinaër and a strategy lead for multiple companies
- Has been an instrumental part in the development and launch of DeWalt and Snakelight at Black & Decker, 11 operational and financial restructurings, the design and launch of Black & Decker’s Global TQM process, and adapting blockchain to the supply chain
- Participates in speaking engagements and has written over 125 articles on critical topics supporting middle market companies
- BSME degree, University of Delaware; MBA degree, Gannon University
- Can be reached at [email protected], (909) 949-9083, or https://www.linkedin.com/in/jgitney
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