CORe Exam Dumps | When developing a sourcing strategy, which of the following is the BEST source of data on the spend profile

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Question 9/151

When developing a sourcing strategy, which of the following is the BEST source of data on the spend profile of a category?

A. A sales representative from the supplier

B. An internal stakeholder

C. Information from an internal database

D. The Internet

Correct Answer: C

* Spend Profile Analysis: This involves examining how much money is being spent, on what, and with whom.
* Internal Database: The company's internal database will have historical data on past expenditures, contracts, purchase orders, and supplier performance.
* Comprehensive Data: This data is likely to be accurate, detailed, and tailored to the company's specific context.
* Internal Stakeholders: While they can provide insights, their information may not be as comprehensive
* or reliable as the data from an internal database.
* External Sources: External sources like sales representatives or the internet may not have access to all necessary internal details. References
* CIPS (Chartered Institute of Procurement & Supply) guidelines on spend analysis.

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