Spend Analysis | Cost Analysis |Spend Analysis VS Cost Analysis | Procurement Analysis | Procurement
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- เผยแพร่เมื่อ 18 ก.ย. 2024
- Spend analysis Cost Analysis Spend analysis VS Cost Analysis Procurement Analysis Procurement
Procurement analysis is an essential exercise for any business which is engaged in Procurement Process to improve its bottom line and customers satisfaction.
Basically it is a systematic examination of purchasing activities and identifying areas where businesses can save the costs and develop strategies to increase efficiency and productivity and make informed decisions about what products and services to procure, identify their potential costs, risks, and benefits associated with specific purchases, as well as inform decision-making on how to allocate resources most effectively and suppliers selection and their performance.
There are several different types of procurement analyses that can be used in businesses but today I am going to discuss two main analyses, since these both concepts are very important with different focus on in the Procurement Process.
Cost Analysis
Spend Analysis
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Asus teaching about this analyse how you can utilise this analyse for the purpose of marketing as well can you please explain it how we can manage your utilise these analyst for the sake of the purpose of marketing
Analysis of marketing cost is done by Marketing Cost Analysis which helps to assess the total costs of all activities in a marketing campaign.
The resources invested include money, employee work hours, media purchases, and other resources.
The analysis helps the company gain a clear picture of the costs of marketing activities. Sometimes, it is hard to quantify resources like time and efforts but are critical in computing the general impact of the campaign.
We also include Cost Breakdown in Marketing Plan, in which we allocate budget for different activities in Marketing campaign and also predict its out come in shape of revenue, profitability or market share, this is done with thd help past data analytics of the similar products or services.
Yes you can also apply Spend Analysis to your marketing spending and help you to decide about future Advertising agencies.