Bus 307

Spend Analysis

From the readings in Chapter 7, respond to the following questions in a one to three page document to submit to your instructor. The submission must adhere to APA style guidelines and should include at least two scholarly references. 

1. Why are data analysis skills and thinking so important to spend analysis? Can’t software applications be used to generate the information needed automatically?
2. How might a structured process such as Six Sigma methodology (chapter 4) be useful here?
3. Why is it important to get other functional areas, notably finance, involved in spend analysis efforts? Can you think of some other functional areas that should be involved?