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SPEND ANALYSIS: The Window into Strategic Sourcing by Haralambos Marmanis, Kirit Pandit

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TAXONOMYCONSIDERATIONS

In Chapter 6, we laid down some ground rules for creating good taxonomies. In this chapter, we will examine some popular commodity taxonomies that can be used for spend analysis. Because most analysis is done at the commodity level, the choice of this taxonomy can play an important role in the success of your implementation.

ONTOLOGIES AND TAXONOMIES

In information science, an ontology can be thought of as a data model that describes a domain of interest. A data model typically consists of objects or sets of objects, attributes of the objects, and relationships between objects. Much of the power of the ontology comes ...

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