Procurement Risk Analysis
SPRS provides a procurement risk assessment in three areas:
- Price – over/under-bid risk based on previous buys since 2010, excluding outliers, and escalated by Bureau of Labor Statistics inflation indexes.
- Item – identified application or safety criticality, potential for counterfeiting, nonconforming material, diminishing sources of supply.
- Supplier – a standalone way to see detailed Supplier Risk.
Bids are compared to their escalated historical price(s) to determine the amount of associated risk.
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