Purchase order analytics helps to analyze your material purchases and others with the business insights effective for decision-making like identifying purchase order status, frequently ordered materials, preferred vendors and purchase order value and other company’s day-to-day purchasing activities.

The need for purchase order analytics has developed from organizations' desire to get a consolidated view of their process of procurement and spending.

Purchase Order Analytics is designed to present below KPIs and Insights

KPI

Insights

Total Purchased Orders

This Metric lets you know how many Tota purchase orders are Placed on specific date period.

No.of Materials ordered

This Metric lets you know the No. of Material ordered for the selected range and base period.

Total Purchase Order value

Metrics to understand Total spending on inventory for the selected range and base period .

Total Billed

Metrics to understand Total Billed amount for the selected range and base period .

Top 5 Frequently ordered Material(s) and its order value

What are the items that are frequently ordered for the selected range and base period

Purchase Orders by Status

It will help to know the status of the purchase order i.e, On your purchase orders, how many orders are accepted, how many orders are pending, and how many are billed.

Purchase Orders over Time

Metric to understand the money spent on the inventory for the selected date period. Total cost by Month based on the selected date range and base period.

Top 5 Preferred Vendor by order value

You will top 5 vendors by order value

.

Purchase Order Report by Material

Provides you with a list of items that are purchased

Listed with informative fields like PO Name, Material, Vendor, PO Status, Created On, Unit Cost,Order Value.

Importance of Purchase Order Analytics & Benefits

  • Manage the company’s day-to-day purchasing activities and ensure that all purchasing

  • Managing purchase orders and compare deliveries with purchase orders to identify discrepancies

  • Signing and reviewing purchasing agreements with vendors, monitoring their performance and renegotiating contracts

  • Planning and overseeing the work of Purchasing Agents

  • Establishing guidelines on how often the company gets price quotes for items, the number of bids to accept and which vendors to consider

  • Propose improvements to the current purchasing system that will improve vendor relationships and lower the cost of doing business

  • Assist in developing more effective invoicing and collecting processes

  • Using quarterly and annual data to determine purchasing needs and performing inventory management

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