Hi Everyone.
I need to spin up a few easy ‘repeatable’ reports to give a very high level overview of our Procurement process as a company.
What would everyone’s recommendations be? and how would these reports be best executed?
I am assuming Vendor by spend would be something that may be relatively easy to run a report on, but also looking for some other reports to go with it in relation to our Warehouse spend maybe and Inventory levels by stock value as an example?
I’m not very experienced in Power BI, but I assume this would be the recommendation if wanting to add the data extracted into a visual representation?
Thanks in advance for any suggestions!
Yes, Power BI is a great tool for visualizing and analyzing data, and it sounds like it could be a good fit for your needs.
For a high-level overview of procurement, a few reports that you could consider creating include:
- Vendor spend by category (e.g. how much was spent on office supplies vs. equipment vs. services, broken down by vendor)
- Purchase order volume by department (e.g. how many purchase orders were created by the IT department vs. marketing vs. operations)
- Inventory turnover rate (e.g. how many times inventory is sold and replaced in a given time period)
- Purchase price variance (e.g. comparing the actual cost of goods to the expected cost)
To create these reports in Power BI, you would first need to connect to your data sources (e.g. your procurement and inventory systems) and import the relevant data. You could then use Power BI’s built-in visualizations or create custom ones to display the data in a meaningful way. You could also consider setting up a dashboard in Power BI to display all of your reports in one place.
If you’re new to Power BI, I would recommend starting with some online tutorials or taking a course to get up to speed. Additionally, there are many pre-built templates and visuals available in the Power BI marketplace that you could use as a starting point for your reports.