Analytics Toolbox for Procurement Sourcing & Tendering

Detailed description of challenge

Status Quo
- Negotiations are a usual procurement activity. Depending on the size of the sourcing activity, negotiations can stretch out and include several rounds
- Before or during negotiations, a lot of data has to be manually gathered and reviewed
- Contract proposals are reviewed manually
Target state
- The idea is to have an analytics toolbox that supports buyers during negotiation by providing category/supplier specific data and market analysis, as well as simulation capabilities
- The nature of the tools is ad-hoc and simulation driven
- The toolbox generates insights which are useful during the negotiation. Insights are not transparency (e.g. preparing data in a certain way) but rather using the available data to generate actionable items
- The toolbox enables the sourcers to react quicker to the changing nature of a negotiation and give an edge
Negotiations utilizing the toolbox are more time efficient than the status quo

The following topics have been identified as potentially relevant for the sourcing analytics: Supplier/Industry cost structure, smart supplier profiles, smart contract checks, volume & price simulation, contract duration analysis, price benchmarking

We need support in the realization of the idea to create a digital toolbox for the strategic sourcers. We are at an early stage and support could be finalizing the use-cases, helping to identify the external data sources and implementing them in an internal or external solution
Inspirations on use-cases for sourcing analytics toolbox are highly welcome
Concept for digital tool to analyze Covestro internal data sources automatically (e.g. supplier fact sheets)
- - Implementation of Web-Crawler functionality for public external data sources
- - Integration of paid data services into Toolbox required
- - Obtaining data sources on should cost and industry/supplier cost structure is crucial and we have yet to identify them

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