Do you want to take your procurement to the next level of evolution? Then it's time to understand the topic of purchasing data as a core strategic issue and act accordingly. Data-driven decisions are the key to a successful organization. It is not enough to simply collect data. You need to become a data-driven organization that systematically uses its data to make operational and strategic decisions.

To become a true Data Driven Procurement Organization (DDPO), you need to meet certain basic requirements. It's not just about the IT infrastructure, but also the governance structure, the operational processes, the strategic direction and the employees and their culture. A DDPO is characterized by four distinctive features:

1. Firstly, decisions are data-driven, based on information and insights rather than intuition and gut feeling.
2. Secondly, data access is democratized and easily accessible to all employees.
3. Thirdly, data literacy is widespread so that all employees understand and can interpret data correctly.
4. And fourthly, an agile organization in which employee collaboration is encouraged is crucial.

By treating procurement data as a core strategic topic and creating the basic conditions for a data-driven organization, you will lay the foundation for a successful future. You will be able to make well-founded decisions that you can rely on. Data will become a valuable tool that helps you to identify potential, increase efficiency and gain a competitive edge. So don't hesitate any longer and take your procurement to the next evolutionary stage by treating the topic of procurement data as a core strategic issue and acting accordingly.

Do you want to take your procurement to the next level of evolution and develop as a specialist or manager in procurement? Then it is crucial to understand the topic of purchasing data as a strategic core issue and to act accordingly. Why? Here are some important aspects that should motivate you to be data-driven:

Customer satisfaction: data enables you to better respond to the needs of your (internal) customers and strategic partners and optimize their "customer experience". By systematically analyzing (internal) customer and, above all, supplier data, you can find even more tailored solutions, thus increasing (internal) customer satisfaction and both retaining existing strategic partners and identifying new suppliers as strategic partners.

Reduced costs: Data-driven Procurement Organization (DDPO) enables you to increase efficiency, reduce redundancies and optimize outdated business processes. As a result, you can not only increase productivity, but also reduce costs and thus exploit the potential for higher profitability.

Higher productivity: Studies have shown that companies that improve their processes and operations with big data and analytics have 5% higher productivity and 6% higher profitability than others. So by making the most of your purchasing data, you can increase efficiency and improve your productivity.

Monitor risks: Purchasing data can not only highlight new opportunities, but also help to proactively identify and minimize risks in the supply chain.

Competitive advantage: Data-driven decisions enable you to recognize trends and opportunities at an early stage and react to them more quickly. This can prove to be a competitive advantage, especially in product development, the introduction of new services or the acquisition of new skills. By using your purchasing data strategically, you can set yourself apart from your competitors and gain an edge in the market.

Overall, using procurement data as a strategic core topic offers a multitude of benefits for you as a specialist or manager in procurement. So, use the potential of your purchasing data and take your purchasing to the next level of evolution.

The key challenges for you as a specialist and manager in procurement lie in dealing with procurement data. It is important to understand this as a core strategic issue and act accordingly. Digital business is based on data and its analysis, but many companies have not yet placed the necessary focus on this.

In the past, data and analytics were often only seen as supporting elements and not as key drivers for business initiatives. In many places, there is a lack of a clear structure and organizational focus on data and analytics. No manager has been appointed who is responsible for optimizing data and analytics and developing the relevant skills within the company.

Traditionally, data and analytics organizations have focused on providing services for individual projects rather than building and disseminating skills across the organization. It is time to foster communities of practice and work together to achieve the desired outcomes.

However, there are other risks and challenges that need to be addressed. These include data bias and the separation of data into silos, which can lead to a limited view of the overall situation. The quality of the data is also an important factor that needs to be taken into account. Data illiteracy, i.e. a lack of understanding of how to handle data, can also lead to problems.

Data security, good governance and a clear and concise data architecture are further challenges that need to be overcome. It is important to recognize these aspects and take appropriate measures to take procurement to the next level of evolution.

By treating procurement data as a core strategic issue and acting accordingly, you can optimize your procurement and drive it forward successfully. It's time to seize the opportunities of digital transformation and data-based decision-making. Let's take the next step together and take procurement to the next level of evolution.