Spend Analytics – our Latest BravoSolution Real World Sourcing Session, Slides Available Now

Thanks to everyone who came along to the first BravoSolution Real World Sourcing event of 2015, at our new venue, the Jugged Hare in the City of London. The topic was Spend Analytics – the Next Generation, and started with reviewing where analytics is at today before moving into some of the more forward-looking ideas and potential uses for analytics and data.

Although it was by definition an interested and well-informed audience, very few felt they were currently using analytics for all of what we defined as the “standard” current purposes. We didn’t really have the time to get into why that is, but that would be a good topic to explore further. Is it that they don’t see the benefits in some of the potential areas? Or they don’t have the right solutions and solution providers? Or is it lack of time, resource or skills within the procurement teams to get the most out of analytics platforms and solutions?

Anyway, looking more to the future, we identified a number of themes. Using analytics and big data to identify fraud was one. Then we had a short but fascinating session from Scott Pryde of BravoSolution, explain how combining spend and performance data is beginning to help the National Health Service understand which products they should be using. What is still worrying though is that in the area of prosthesis (artificial hip and knee joints, for instance), too many clinicians are choosing options that are both expensive and not medically optimal! But at least it is getting easier to analyse and present the data to prove this, so hopefully that is the first step in changing behaviour to save money and lives.

When we got onto the real visionary stuff, my view is that spend analytics will become increasingly real time – so you will be able to see data as you are making spending decisions – and spend data will link with many other types of suppler data, whether that comes from external sources (including social media), or from internal performance figures and so on. And of course we will be able to play with the data in our 3-dimensional virtual reality data playrooms, using our avatars ... OK, now maybe we’re getting a bit too “Matrix” here!

Anyway, you can get access to the slides from the session here, free on registration. And don’t forget, if you came to the session – or you aim to attend at least three of this year’s six sessions – then complete the quiz to enter the race for the BravoSolution Scholarship. It is worth £2,500 to spend on training and development and going to the person who scores best on the tests across all six sessions.

Finally, the next Real World Sourcing sessions are as follows. Register through the links here before these sessions sell out!

Category Management ; a Fresh Look (April 29th)

Guy Allen on the latest thinking and practice in that key area, including issues such as localisation versus globalisation.

New Approaches to Negotiation (Wednesday 3rd June)

That’s me again, reviewing the core of negotiation best practice, then looking at how the latest thinking around behavioural psychology might impact on how we approach negotiation.

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First Voice

  1. Paul Ireland:

    It is interesting to see the one session highlighted that in the NHS ‘too many clinicians in the area of prosthesis are choosing options that are both expensive and not medically optimal!’ In a research study over ten years I made the same observation.

    Changing the specifying role/behaviour of clinicians in the NHS is critical, but very challenging. The case of artificial prostheses is a classical example of where there are many factors preventing effective procurement leading to very poor levels of VFM (and significant variances in price for all types of hip).

    All eight of the major barriers to effective internal demand management (see http://www.iiaps.org/blog/?p=141) were widespread and preventing procurement’s influence in maximising VFM. These barriers were largely attributable to the role of clinicians and lack of influence/power of the procurement teams. Educating the clinicians about the problems caused by their actions is critical. This is the same issue faced by procurement when dealing with internal clients who control the specification and call in the ‘buyer’ to simply make the purchase!

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