What is procurement planning in detail?

In addition to budgeting, forecasting key indicators such as procurement volumes (spending) and savings are included in procurement planning. When planning for spending, quantity and pricing planning can be done separately.

Further plans can be made at the level of the individual initiatives (procurement initiatives). The strategic forecasting of procurement initiatives and their results (e.g. negotiations with a supplier) are particularly important in order to be able to plan and gauge savings.

InitiativeTracker 2018
InitiativeTracker is a full featured suite for planning, steering, controlling and administering of sourcing initiatives. You can use this software to plan and create sourcing initiatives, define savings targets, assign responsible staff members or teams to initiatives, determine sourcing levers, set activities and milestones, as well as monitor and analyze them easily by using innovative visualizations and dashboards.
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Orpheus Blog

Read blog articles about spend management, initiative management and data management in procurement, or other articles from our experts.

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