The Future of Spend Management: Predictive Analytics

Today Buyers Meeting Point welcomes Faris Jebara as our guest. Faris is a Project Manager at Source One Management Services with nearly a decade of experience providing strategic sourcing services for fortune 500 clients. His industry experience includes pharmaceutical, medical devices, consumer packaged goods, and aerospace. He also has an MBA in Supply Chain Management Focusing on Market Research Insights and Analytics and a Lean Six Sigma Green Belt.

Source One recently released a whitepaper on predictive analytics, and Faris was a key contributor to the effort. The paper, titled The Future of Spend Management: Predictive Analytics, can be accessed here.

In this conversation, we discuss:

• What predictive analytics is and what potential it represents for procurement and supply chain to improve their results.
• How to strike the right balance between talent and technology to make predictive analytics a reality.
• How companies are tracking the ROI or effectiveness of their predictive analytics programs.
• The additional information that procurement needs to be prepared to bring to any analytics effort in order to maximize ‘situational awareness.’