The Science Behind Cost Savings
Posted: 09/15/2020 - 21:36
Quantitative and scientific approaches to cost estimation have existed for decades and are increasingly accessible to procurement teams via technologies that automate data analysis.
In many cases, these new capabilities simply accelerate the manual work that procurement professionals were doing using pivot tables and advanced Excel functions (e.g., show only rows with less than five days lead time) that effectively filter large numbers of line items in seconds.
