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Most Recent Articles/Tutorials

Spend Management Tutorial

Spend Management is the process of managing the spending by companies and enterprises. This involves controlling, optimizing and reducing the money they spend to provide the goods and services that they sell. Spend management is reducing operating and other costs associated with doing business. These costs typically assigned as Selling costs or operating costs or General and Administrative costs. These costs are also found in other areas and in other parts of the supply chain.

Typical spending by companies involves buying:

goods or services for direct inputs (raw goods and materials used in the manufacture of products)
indirect material (office supplies phones data),
services (temporary and contract labor, cleaning/security services, etc.),

Spend Management process includes:

spend analysis
sourcing
procurement
receiving
payment settlement
management of accounts payable and general ledger accounts.

Spend management is managing how to spend money in order to build products and services. Spend management encompass processes such as

outsourcing
procurement
e-procurement
supply chain management

Spend management saves money by

Reduce "maverick" spend -- Buying from outside the preferred process or system is known as Maverick Spend
Economies of scale: By directing bigger chunk of the spending to one single preferred supplier
Increase process efficiency by automating sourcing, procurement and payment processes

Spend management Software

Coupa
Ariba

Listed on: 2/15/2011 Read more.

Online Six Sigma Black Belt Training with Certification - Only 275$ per Module

Buy Six Sigma Black Belt Online Training with Certification - One Module

Online Computer Based Training (CBT) - with instructor assisted grading and certification - Black Belt Course Module 1 (Week 1 of 4) in Power Point Format

Get Six Sigma Black Belt Certification in 4 weeks from the comfort of your home! Our Black Belt Course is divided into four weekly modules. You can buy these four modules separately at 275$ per each module. Or, if you like to buy all four modules, you can just pay 995$ and we will send you all modules. We have invested our time in making this course very comprehensive, user-friendly and practical. We have created end-of-module exams for those wishing to be certified. We grade the tests and let you know which questions you missed. And we are available for answering any questions our course clients might have. Once you go thru each module, you will be given a test. You go thru the test at your own pace and send us your answers by email. Our instructor Mr. Michael G. White will personally correct your answers and will send back the scores. Mike will also indicate which questions you missed. Don't panic if you fail the test. You can take this test as many times as needed until you pass the course. We guarantee you that you will get your certification 100%. When you pass the four tests, we will send you a Lean Six Sigma Black Belt certificate from Qi2.

Listed on: 1/24/2011 Read more.

Failure Mode and Effects Analysis (FMEA) Course in Power Point - Buy now for199$

Learn FMEA Concepts at your own Pace! This popular FMEA course (CBT) is in Power Point format and well organized into four lessons. Tests at the end of each lesson will help you assess your skills. Originally sold at 275$ (MSRP). We have a special arrangement with SixSigmaQi2 to sell this CBT at a reduced price of only US$ 199. This four lesson, 125 slide (Yes! that is hundred and twenty five power point slides packed with FMEA information) CBT is designed and developed by Michael G. White, P.E., C.Q.E. of SixSigmaQi2.

Listed on: 1/18/2011 Read more.

Using KPIs to enhance your organization's business value

What is a KPI ?

A performance measure or metric that specifies an emphasis intended to produce a desired result is called a Key Performance Indicator or KPI . KPIs are quantifiable measurements that gauge success of a process or project or a business as a whole. KPIs typically represent values, statuses, trends, or goals even though they can be diverse in nature, KPIs often combine two or more of these into a single indicator. The purpose of a KPI is to present high level and summary information to top level executives (CXOs) or other managers of the company. They use the information to steer an integrated organization. Typically we limit the number of these vital measures to only a few so that the management can get an idea of the whole picture by simply glancing at the important KPIs.

KPIs are typically graphical in nature, and are collected/displayed into a dashboard, scorecard, where they can be easily accessed by the management team. One can obtain a quick and accurate summary of business success or progress toward success by looking at these KPI dashboards. KPIs make it easy for management to understand, make decisions and take action. Based upon the information provided by the indicators, managers can pull the processes and activities that the KPIs represent into alignment with the companies strategic goals and objectives.

Listed on: 1/13/2011 Read more.

Regimented Business with Business Analytics

Business Analytics is widely used in the various industries, organizations and corporate in a number of ways. For example Business analytics is used in banks to predict and prevent credit fraud. In retail industry it is used predict the best location for stores and how to stock them. In Pharmaceutical industry business analytics is used to invent new drugs. Even in sports like cricket business analytics is used to determine the strategy of the game and analyze the performance of a player. It is also used for players’ segmentation. In steel sector business analytics can be used to invent new variety of steels and also for better Quality Control.

Benefits attained from Business Analytics

By this Analytical approach companies attain the following:

identify their most profitable customers
accelerate product innovation
optimize supply chains and pricing
identify the true drivers of financial performance
Better Quality Control.

Listed on: 11/18/2010 Read more.