the process of understanding how a firm is spending its money and with which suppliers is called: multiple choice strategic sourcing. make or buy analysis. market analysis. incorrect spend analysis.

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04-11-2022
Business

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the process of understanding how a firm is spending its money and with which suppliers is called: multiple choice strategic sourcing. make or buy analysis. market analysis. incorrect spend analysis.

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MubeenaD MubeenaD · Answer 1 · 2022-11-14T05:23:27-05:00

The process of Understanding a company's financial activities like spending and relationships with its suppliers is referred to as: Spend analysis.

The correct option is D.

Spend analysis is the activity of scrutinising procurement expenditures in an effort to cut costs, boost productivity, or strengthen supplier ties.

Spend analysis is the procedure of gathering, cleaning, classifying, and understanding data on spending its money with the aim of lowering procurement costs, boosting productivity, and keeping track of compliance and controls.

The process of gathering, scrubbing, categorising, and analysing spend data using either specialised software or one-off spend cubes is known as spend analytics.

The complete question:

The process of understanding how a firm is spending its money and with which suppliers is called:

multiple choice

a. strategic sourcing.

b. make or buy analysis.

c. market analysis.

d. spend analysis.

To learn more about Understanding Spending, refer

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