Procurement Analytics & Contract Management Workflow

This course contains the use of artificial intelligenceDisclosure: AI tools were used only to assist in creating the course outline and course thumbnail. All instructional content, explanations, and project walkthroughs were fully created manually by the instructor.Welcome to Procurement Analytics Contract Management Workflow course. This is a comprehensive tutorial for procurement managers, purchasing staff, and supply chain analysts who are interested in analyzing procurement data using Microsoft Excel, visualizing data using Tableau, evaluating supplier performance, optimizing sourcing strategies, managing contract workflows, and improving procurement efficiency. This course is a perfect combination between procurement and contract management, making it an ideal opportunity for you to practice your analytical skills while improving your technical knowledge in supply chain management. In the introduction session, you will learn the basic fundamentals of procurement analytics and contract management, such as getting to know procurement process and contract lifecycle. Then, in the next session, we will start the spending analytics projects. Firstly, we are going to analyze total quantity and total spending by item category, and we are also going to analyze spending trends over time to identify purchasing patterns. Afterward, in the second project, we are going to analyze total spending by supplier and we are going to conduct supplier risk analysis using a Pareto chart which will enable us to identify key suppliers that contribute the majority of procurement spending. Following that, in the third project, we are going to conduct volume discount analysis. By doing so, we will be able to evaluate cost saving opportunities through bulk purchasing. Then, in the fourth project, we are going to compare budget vs actual spending and analyze supplier payment terms. This activity will enable us to identify spending variances, monitor budget performance, and optimize cash flow management. After that, in the fifth project, we are going to analyze procurement KPI and supplier performance metrics like on time delivery rate, purchase order fulfillment rate, and average lead time which will enable us to evaluate supplier reliability. Next, in the sixth project, we are going to analyze inventory and demand. We are going to be focusing on inventory consumption, inventory turnover rate, and reorder gaps, these will allow us to optimize inventory levels and improve demand planning. Then, in the seventh project, we are going to visualize supplier production capacity data using Tableau. By doing so, we will be able to evaluate supplier capacity and limitations. In the next section, we are going to analyze procurement strategies using Porter’s Five Forces and perform supplier segmentation using the Kraljic Matrix. This activity will help us to evaluate supplier bargaining power, assess procurement risks, and develop effective sourcing strategies. Additionally, we are also going to have a Supplier Relationship Management case study and calculate Total Cost of Ownership. Once we have completed the procurement analytics section, we will start the contract management section. Firstly, we are going to draft and review contracts using AI tools like Claude and Gemini. Then, we are going to manage contracts using PandaDoc and Notion, specifically we are going to be focusing on contract organization, workflow management, and contract lifecycle tracking. Following that, we are also going to build a contract analytics automation workflow using Zapier. The automation will be able to extract key details from the contract, identify potential risks, perform web search for price benchmark, and generate negotiation opportunities. Lastly, at the end of the course, we are going to create interactive dashboards to track contract expiration dates, contract value, status, and other key metrics.First of all, before getting into the course, we need to ask this question to ourselves, why should we learn about procurement analytics and contract management. Well, here is my answer, these skills enable businesses to make data driven procurement decisions, reduce costs, manage supplier risks, and improve contract performance. In today’s business environment, professionals who can combine procurement knowledge with analytics skills have a strong advantage in driving operational efficiency and adding strategic value.Below are things that you can expect to learn from this course:Learn the basic fundamentals of procurement analytics and contract managementLearn how to conduct spending analytics using Microsoft ExcelLearn how to analyse spending for each category and analyse spending over timeLearn how to analyse spending for each supplier and conduct supplier risk assessmentLearn how to conduct volume discount analysisLearn how to compare budget vs actual spending and analyze supplier payment termsLearn how to analyse procurement KPIs and supplier performanceLearn how to analyse inventory consumption, inventory turnover, and reorder gapLearn how to visualise supplier production capacity data using TableauLearn how to analyse procurement strategies using Porter Five ForcesLearn how to perform supplier segmentation analysis using Kraljic MatrixLearn how to analyse sourcing strategies, manage supplier relationship, and calculate total cost of ownershipLearn how to create and review procurement contract using Gemini and ClaudeLearn how to manage procurement contracts using PandaDocLearn how to create contract approval workflow using AirtableLearn how build contract analytics automation workflow using ZapierLearn how to track contract expiration date, contract value, and status using Notion