Ranking Spend Data in a Spend Analysis

Our Spend Analysis Series is quickly coming to a close. So far we've covered:

• Where to Begin 
• Types of Spend Data
• Dealing with Decentralized Data 
• Standardizing and Categorizing Spend Data

Now it's time to develop a preliminary sourcing strategy by ranking your spend categories. In Episode 5 of the Spend Analysis Series, spend consultant Jennifer Ulrich takes us step-by-step through the process of ranking spend categories. During this phase, you'll be taking a high level look at the categories you might want to consider further evaluating for cost reduction opportunities. Ulrich explains the considerations such as how much spend is in your particular category and how many suppliers you have for your categories. In addition, she explains how company culture may also impact your sourcing strategy.