What is maverick spend and how to reduce it?

Maverick spend is the action of purchasing from suppliers outside pre-established procurement policy. Maverick spend can be defined as off-contract spend or buying from non-preferred suppliers.  Across all types of organizations, there is a wide range...

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Matti Sillanpää

Materials Forecasting, Procurement explained

Materials Forecasting Explained

Materials forecasting is the process of creating direct materials cost budgets and forecasts to help your business better understand and manage its future profitability. In manufacturing...

Matti Sillanpää

Materials Forecasting

How to Calculate and Forecast Purchase Price Variance (PPV)

In any manufacturing company Purchase Price Variance (PPV) Forecasting is an essential tool for understanding how price changes in purchased materials affect future Cost of Goods Sold and Gross...

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