Spend Analysis Datasets - Procurement Spend Analysis | Turtle & Hughes

ADVANCED ANALYTICS

SPEND ANALYSIS DATASETS

Decision-makers in all businesses are challenged with knowing where their business stands today and in planning for its success tomorrow. By incorporating business analytics into the operation, key decision-makers are now privy to past performance reporting, as well as having the insight to plan, or even predict, future scenarios for the operation. All integrators must address both the transactional and responsive aspects of servicing their clients. Being able to document this performance is expected, and our performance reporting is second to none. What differentiates Turtle & Hughes Integrated Supply (THIS) is our ability to develop strong spend analysis datasets through a disciplined and consistent process, and then provide that data as a strategic resource to both our clients and ourselves. Well-developed procurement spend analysis is the foundation of strategic procurement and the continuous improvement process.

DATA COLLECTION AND METHODOLOGY

REPEATABLE AND ACCURATE MEASUREMENTS

Our standard process is to report all Key Performance Indicators (KPIs) for each site we manage every month; the site reports are then combined on an enterprise basis. For ease of access and review, reports are posted on our online collaborative platform, THISone. We are flexible about which KPIs must be reported per customer, and consider it a point of clarification regarding how to define the calculations for almost all types of metrics. Because the definitions vary from customer to customer, and in some cases are captive to the system of record used, we broach the subject of service level minimum standards and incentive performance rates per KPI early on in the process. Standard measures include:

  • Spend by MRO Category
  • Inventory Usage
  • Inventory Reductions
  • Inventory Turns
  • Stock Outs
  • Cycle Count Accuracy
  • Cost Savings Achieved (year-over-year vs. client LPP)
  • Project-Based or Value Creation Cost Savings
  • On-Time Delivery
  • Order Accuracy
  • Customer Satisfaction


THISone

THISone

REAL TIME VISIBILITY

Real time information about the requisitioning process can vary from location to location. So, Turtle & Hughes Integrated Supply (THIS) expanded its cloud-based solution, THISone, to include a requisitioning tool. Now, end users have a real time visibility allowing them to better manage their budgets on the front lines and before the transaction ever takes place.

INVENTORY MANAGEMENT

INVENTORY MANAGEMENT

LEAN ASSESSMENT

By identifying and reducing obsolete parts, Turtle & Hughes Integrated Supply (THIS) undertook a "Lean Assessment" for one GMP medical device supplier, which resulted in a 29 percent reduction in obsolete parts that were stored at the plant -- saving them valuable resource dollars.

ADVANCED ANALYTICS

ADVANCED ANALYTICS

TRACKING SAVINGS

When standard Key Performance Indicators (KPIs) just aren’t good enough, the analytics team at Turtle & Hughes Integrated Supply (THIS) is challenged with developing better ways to track savings. For one customer who was looking to validate our decade-long procurement program, an analysis of long-term savings led to the creation of a new KPI, which transcends typical hard costs and productivity savings.