A procurement price analysis equips businesses with the necessary insights to make informed decisions and optimize their procurement strategies. According to industry estimates, supplier spending can account for 40–80% of a company’s total spend. This is a significant expense that presents an opportunity for cost reduction. Through price analysis, companies can:
A well-thought-out strategy and plan are necessary for producing reliable results from a procurement price analysis. These three steps on how to do price analysis can help you get started.
Conducting a pricing analysis involves working with large volumes of data. CenterPoint Group simplifies the process by leveraging cutting-edge technologies and our industry expertise. Learn how we can make a difference for your business today by signing up for a free pricing analysis.