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Benefits of Insight
Insight provides the information to:
Reduce inventory levels
Reduce storage and maintenance costs
Reduce obsolescence costs
Reduce interest charges on working capital
Conduct an inventory rationalisation programme
Identify disparities in stock levels and usage levels between locations
Aggregate purchasing from individual suppliers
Benchmark best practice across your organisation
Use consistent, company-wide spend analysis to deliver continual process improvement
Enable better targeted price negotiations with suppliers using aggregated, normalised data
Improved disciplines around spend forecasting, with better tracking against targets
Respond rapidly to ad hoc queries, improving senior management decision making
Quickly identify areas of weakness, such as too many suppliers providing the same services or conversely, too much exposure to a single supplier
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