Industries
Manufacturing, Metals & Mining, Oil & Gas
Teсhnologies
ML (Clustering), Phyton, PowerBI
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Project
ProcureMatch helps procurement departments improve vendor relationships by categorizing suppliers based on performance metrics, leading to more strategic sourcing decisions.
Solution
We developed a data model, data flows, and a dashboard that provides analytical data on purchases, leveraging advanced algorithms and machine learning (ML) methods for supplier segmentation that enables dynamic interaction with data and presents critical insights into purchasing patterns.
This allowed for:
- Task Allocation:
Distributing suppliers into four segments. - Key Supplier Identification:
Pinpointing essential suppliers for the development of long-term partnership strategies. - Analytical Monitoring:
Utilizing Power BI for real-time monitoring and analysis.
Results:
Power BI Management Panel: Our developed Power BI dashboard visualizes supplier and product distribution across various categories, which reflects the overall expenditure of the company.
Business Tool: This tool allows business users to devise optimal supplier relationship management strategies.
Algorithms and ML Methods:
Clustering: We employed clustering algorithms to categorize suppliers effectively.
We leveraged data such as supplier names, product categories, inventory, and overall supplier expenses to inform our analysis
Graphics Overview:
Supplier Matrix Graphic: Visualizes suppliers in a scatter plot categorized by significance in business and associated risks. Filters allow for selective data analysis by categories or specific suppliers.
Supplier Impact and Risk Table: Showcases a table of indicators for calculating risks and their impact on business, providing a formula for each category, such as dependency, share of total spend, and supplier complexity.
Conclusion:
The strategic segmentation of suppliers based on a blend of qualitative and quantitative metrics has provided our company with actionable insights, paving the way for more informed decision-making and robust supplier relationships.
Want to learn more about our Supplier Segmentation:
