Item description for Spend Analysis: The window into strategic sourcing by Kirit Pandit, Haralambos Marmanis, Lazar Fleishman, III Adrian L. Bastianelli, Andrew D. Ness, Gabriele Forst & Sylvia Yount...
A growing number of senior executives are coming to realize that strategic supply management can be a significant driver of improved corporate performance and better risk management. Spend Analysis is the most critical component, and the starting point, of strategic supply management and it essential to achieving world-class performance. If you can't analyze your spend data, many opportunities for improvement beyond the low hanging fruit are without doubt being missed. One of the foundation blocks for transforming an organization's practices to world-class supply management is the business process called strategic sourcing. And one of the requirements for enabling world-class strategic sourcing results is rigorous spend analysis. There is a lot of confusion on what constitutes spend analysis and what benefits can it provide. Spend analysis can help improve several areas: the identification of cost reduction opportunities, the prioritization of sourcing projects, the negotiated results, and the tracking and monitoring to ensure that negotiated results reach the bottom-line. It can also play an important role in improving compliance with Sarbanes-Oxley. However, implementations are complex and involve many departments within an organization. If the implementations are done correctly, they can yield high ROI. If not, they can consume money and deliver no returns due to lack of adoption. Spend Analysis: The Window into Strategic Sourcing is the definitive text on this important subject, written by leaders in the field. It is the only reference currently that provides in-depth guidance on what spend analysis really is, what it involves specifically and how to use it in your journey to world-class performance. It provides both an executive overview and technical details for practitioners. Readers do not need specialized knowledge in database systems, information technology or any other field to gain insights from reading this book. It is a must read for procurement, supply chain management, operations, and finance executives, and for practitioners and consultants.
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Est. Packaging Dimensions: Length: 0.75" Width: 6.25" Height: 9.25" Weight: 1.1 lbs.
Release Date Feb 28, 2008
Publisher J. Ross Publishing
ISBN 1932159932 ISBN13 9781932159936
Availability 0 units.
More About Kirit Pandit, Haralambos Marmanis, Lazar Fleishman, III Adrian L. Bastianelli, Andrew D. Ness, Gabriele Forst & Sylvia Yount
Reviews - What do customers think about Spend Analysis: The window into strategic sourcing?
Best business book of the year Mar 28, 2008
Spend Analysis is a superior book on the subject of Strategic Sourcing. If your interest is to find massive cost savings for your business then this book is for you. The authors detail every aspect of spend analysis in an intelligent and myriad display of awareness on the subject. Mr. Pandit and Dr. Marmanis are clearly leaders in this field. A rare opportunity exists to absorb their knowledge and apply spend management to your ROI as you never thought imaginable.
As a finance officer, this book provided me a unique blend of technical and business descriptions in the field of procurement, supply chain, and operations. Each chapter is divided into three equal parts explaining the business concepts, technical analysis and case study examples. It combines all the ingredients that naturally constitute a successful business book.
I literally read this book over the course of one day. After words I distributed copies to my finance department and data warehouse employees. The book provides insight into spend analysis at three levels. First, spend analysis business model concepts. Second, a practical and highly useful approach to the implementation of spend analysis. Third, vital methods on how to interpret the information so as to achieve a significant advantage over your sourcing partners.
For example, first the book translates abstract ideas into rich comprehensible models such as the "hypercube". A plethora of data exists in our procurement systems that on the surface are difficult to extract in a meaningful way. The spend analysis models help transmute your perceptions of the transactional data into high quality information. Second, the case study about the agrochemical business proves beyond a doubt that the authors have not only thought about the ideas but are real life implementers of Spend Analysis. Just review for yourself the project plan requirements, principles and detailed data structure solutions . Third, this book will guide you through the process of finding "Opportunity Identification". These are critical hidden values that will strengthen your negotiation opportunities. Ultimately, from my experience this is the end game.
Finally, in today's difficult economy "Spend Analysis" will help your organization save money. This book couldn't have appeared at a better time. Now is the time to start implementing some real cost savings for my fortune 500 Company.
Everything you've always wanted to know about spend analysis Mar 26, 2008
Spend Analysis: The Window into Strategic Sourcing is the ultimate handbook on spend analysis for firms who are looking at spend analysis software solutions to better understand their procurement spend and pursue opportunities such as leveraging of purchases, supplier consolidation, parts rationalization, reduction of maverick spend, contract compliance, etc. The book also provides a detailed guide for those companies who currently have a spend analysis solution and are looking for approaches to further improve its deployment and use and its return on investment. Using numerous company case studies, the book addresses the issues and challenges that real-world companies have faced as they tackle the question of exactly how procurement dollars are spent and the financial payback for gaining a better understanding of this spend. I liked the way the book is organized so that both those in management and those who are doing the actual detailed implementation work can find pertinent information. If your company is involved in or considering a spend analysis initiative, this book is a valuable resource.
The best book on the subject of analyzing expenses Mar 24, 2008
This is the best book on the subject of analyzing expenses; in fact, it is the only book that covers this subject!
I have worked for over three years in spend analysis from a technical perspective, so when I found out that a book on the subject was finally published I decided to give it a try.
The pace was right, and smooth, because the authors anticipate a lot of the questions that a reader may have. The book covers both the business aspects and the technical aspects of conducting spend analysis. If you are a commodity manager, you should memorize chapters 4 and 7! If you are responsible for data warehousing , part II of this book is a must-read, even if you do not work on spend analysis or sourcing! If you are new to procurement, Part I of this book will introduce you to the subject of spend analysis and its value. If you are an experience procurement person you will find this book invaluable for its insight and depth.
The book is great for anyone who feels that they need to advance their skills in sourcing and, especially, strategic sourcing. I've read short reports on spend analysis before (from Aberdeen, Gartner, etc.) but it never sank in. What's great about this book is that the authors give very clear definitions of key terms and then they take you step-by-step through each topic and how it is reflected in the real world cases.
Despite the great breadth and depth of the book, it is not too long, it is succinct from start to finish. This allows you to go quickly through the entire book; but yet, if you read a couple of chapters a second time, like I did, you will be able to get even more out of the book the second time! That's awesome!
The book is a bit expensive for a technical person but its value is far greater than its price. It is an excellent book of enormous value and I highly recommend it.
Good read for spend analysis Mar 20, 2008
I found the material in this book educational and insightful. I come from a content enrichment background, and I thought the authors did a good job addressing the nitty-gritty details of how content is cleansed and enriched, and why that is important for accurate Spend Analysis. I also thought the authors put forth a compelling argument why a good Spend Analysis program is critical for an effective Strategic Sourcing program. I particularly liked Chapters 2, 3 and 4. Some of the ideas and reports presented in Chapter 4 are very good. Many practitioners who are not familiar with the details of Strategic Sourcing would probably think that Spend Analysis is a simple reporting project that can be accomplished in a few days/weeks. This book brings to bear the complexities and challenges in doing that, and why it is not that simple.
A valuable study of spend analysis Mar 17, 2008
This book covers both the basic and advanced areas of Spend Analysis. Based on what I saw in the 4 years of working in this area, there are various complexities involved in rationalizing and enriching transactional data. The authors have discussed these challenges and their possible solutions in the context of data analysis. The first part of the book discusses the business case for Spend Analysis and why it is important. Overall, the book will be valuable to anyone who is either a beginner in the area of Strategic Sourcing, or someone who has been in Strategic Sourcing but wants to understand Spend Analysis.