“We’ve not seen significant inflation for at least the last 10-20 years, so we need to get in front of that and think about some of the different ways that we can measure value and add value as a procurement organization. It’s not necessarily going to be about dollars and cents. And while a lot of stakeholders don’t like talking about cost avoidance, that is something that needs to be part of the discussion.” –Joe Adamski, Director, Advisory, ProcureAbility
Data was a major topic in 2021, whether the focus was on quality, access, or analytics. There always seems to be too much data, not enough data, or trust issues from procurement and/or the business to make our decision-making processes as data-driven as we would like.
At Categorypalooza 2021, Betsy Pancik, Joe Adamski, and Nick Buitrago from ProcureAbility considered the challenge of getting accurate data to inform procurement’s buying strategies and offer their personal tips on how to overcome those challenges.
Betsy Pancik moderated the session, which included deep dives on topics such as:
- The impact that procurement’s data problems have on the business and what we can do about them
- How much time procurement should spend digging into their data versus building relationships (for instance)
- What leading procurement organizations are doing with (or about) their data and what others can learn from them
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