The purchasing team examined all of the past purchases from the previous financial year in order to identify possible areas of cost savings.What kind of analysis was the purchasing team conducting?

Question

Quizplus · Accepted Answer

Spend analysis is the process of collecting, classifying, and analyzing expenditure data, usually with the goal of reducing costs, improving efficiency, or monitoring compliance. This matches the description of the purchasing team's activities.

The Purchasing Team Examined All of the Past Purchases from the Previous