Actionable Analytics to Improve Supplier Performance
iPurchase Buyer’s Dashboard
by Andrew Weinstein
In the realm of procurement, the demand for real-time data and analytics cannot be overstated. Timely and precise data is pivotal for making informed decisions that can significantly impact an organization’s financial performance. Procurement managers require access to data from diverse sources and systems, harmonized into a clear, actionable format.
Actionable Analytics: The Key to Informed Decisions
Actionable Analytics refers to the process of analyzing data and transforming it into insights and recommendations that can be readily acted upon. It’s not just about collecting data but also about making it actionable, enabling organizations to take concrete steps based on the insights derived from the data. Enter the Buyers’ Dashboard for QAD, an innovative solution that automates a complex ‘QAD process’ that previously demanded extensive time and effort investments.
The Buyers’ Dashboard gives you immediate insight into your entire supplier network, with vital metrics and insights readily accessible.
On January 25th, ISS Group, Strategic Information Group, and Phocas hosted a comprehensive webinar unveiling a brand-new dashboard. This dashboard was meticulously crafted to visually represent data from QAD ERP and ISS Group’s Purchase Requisition Management solution, iPurchaseTM. Its development harnessed the power of Phocas Analytics and Strategics’ Custom Data Connector. The dashboard’s primary aim is to give organizations a concise view of their QAD data, empowering them to make well-informed decisions and take appropriate actions.
Empowering Procurement with Actionable Analytics
We are thrilled to share that Mr. Hector Lopez, Corporate Senior Manager of Supply Chain at MAI Companies (GLA, GSA, IA), delivered an enlightening presentation during the event. Mr. Lopez provided invaluable insights into the pivotal metrics his procurement team will rely on and elucidated the importance of these metrics in shaping a tailored dashboard geared towards optimizing supply chain operations.
Integrated analytics dashboards offer an array of benefits to procurement managers. Armed with real-time data and actionable analytics, managers can make educated decisions to enhance supplier performance, reduce costs, and ensure regulatory compliance. These tools also empower managers to monitor crucial metrics and key performance indicators (KPIs), leading to better-informed decisions that result in cost savings, improved supplier performance and heightened purchasing efficiency.
Key Metrics for Informed Decisions
These metrics encompass areas such as:
Current PO Lines Past Due (% of Open PO Lines, #, $)
Current Open PO Req Lines
PO Lines Received Early, On-Time, Past Due (% of Total PO Lines Received, #, $)
# & % of Shipments Received with Non-Conformance Issues (e.g., missing documentation)
Average Time to Confirm Receipt of PO
Average Days to Receive vs Lead Time (stored in QAD)
Invoice Accuracy
The presentation furnished valuable insights to organizations seeking to streamline their data management processes and elevate their decision-making capabilities. It showcased the potential unleashed by the amalgamation of an advanced procurement solution with cutting-edge analytics tools and custom data adaptors, resulting in a comprehensive data visualization solution.
Take-Away: Elevating Procurement with Actionable Analytics
If you’ve grown weary of outdated procurement methods that consume time and energy, it’s time to elevate your approach with procurement visibility and integrated analytics dashboards. Draw inspiration from these industry-specific examples, showcasing how innovative procurement solutions and advanced analytics tools can unveil a crystal-clear and concise view of your data.
Empowered by this newfound clarity, you’ll make astute decisions and take precise actions, culminating in heightened efficiency, cost savings, superior supplier performance, and enhanced visibility.
Continuing Support for Informed Decisions
The webinar extended a unique opportunity to attendees, allowing them to learn from a procurement industry expert and gain insights into designing customized dashboards that optimize supply chain operations. We extend our heartfelt thanks to Mr. Lopez for sharing his wisdom and expertise with us and delivering a captivating presentation.
In conclusion, the webinar was a resounding success, boasting an excellent turnout. We take pride in equipping attendees with valuable information and pragmatic strategies to refine their procurement processes. We eagerly anticipate hosting similar events in partnership with our collaborators, Strategic and Phocas. This venture seeks to provide sustained support to QAD end-user organizations in their endeavors to streamline data management processes and enhance their decision-making capabilities.
About ISS Group:
ISS Group excels in delivering innovative Data-Driven Approval Routing and Workflow Business Process Solutions designed to elevate the efficiency, precision, and control of QAD Integrated Processes. These encompass a wide spectrum, including PO Requisition Approval, Supplier Invoice Approval, Project Budgets, Credit Authorizations, Unplanned Issues/Receipts, Lot Hold/Release, Scrap Authorizations, and numerous other vital functions. Our long-standing experience within all verticals of the QAD User Community positions us as experts who can help organizations maximize the value of their QAD systems while improving overall operational effectiveness. Visit us at www.issgroup.com.
About Strategic Information Group:
Strategic Information Group (Strategic) is a global QAD Sales and Consulting Partner in North America, Ireland, the United Kingdom, Sweden, and Denmark. We provide QAD next-generation ERP software that meets the challenges of today’s manufacturers from start-ups to market-leading companies and are honored to serve as trusted advisors and consultants throughout the lifecycle of their ERP strategy. We serve all six QAD-targeted verticals with a full range of enterprise applications to complement QAD, including QMS, CRM, and integrated point solutions from Strategic and other partners. With over 30 years of experience as customer success experts, we provide measurable results through proven solutions and services that maximize the value of companies’ technology investments by streamlining operational efficiency and reducing operational expenses. From our innovative products that extend functionality and streamline the FDA validation process, to our team of seasoned pros performing integrations, implementations, or fully-outsourced managed services, Strategic consultants understand your industry challenges and speak the language of manufacturing. Visit us at www.strategic.com.
About Phocas:
Phocas is a business planning and analytics platform that empowers companies to make better business decisions. Phocas offers robust solutions for analytics, budgeting and forecasting, and financial statements that work seamlessly together to help businesses report, budget, and act faster by putting data in decision-makers hands. Phocas comes with out-of-the-box metrics, powerful interactive dashboards, and broad functionality to provide immediate benefits and adoption. Users can customize the software to meet their unique analytics and reporting needs. Visit us at www.phocassoftware.com.