Reviewing historical supplier spend data enables procurement professionals to identify areas wherecost savings can be achieved by analyzing past expenditures and supplier performance. This analysis also aids in making informed decisions about future supplier engagements by understanding previous spending patterns and supplier reliability.
Exact Extract from Study Guide:
"Spend analysis is a process that analyses the historical spend data of your organisation to provide answers to questions concerning spend visibility, compliance, and cost-saving opportunities."

Shareholder Equity = Total Assets - Total Liabilities

ISO isn't an indices- it stands for 'International Labour Association'.
The others are all indices that measure economic data; consumer price index, producer price index and gross domestic product.

Responsible procurement and supply are governed by several key regulatory areas to ensure ethical and fair practices. These include:
* Ethical Practice:Ensures that organisations conduct business in a manner that is ethical and free from corruption.
* Data Protection:Involves safeguarding personal and sensitive information, ensuring compliance with laws such as the General Data Protection Regulation (GDPR).
* Marketplace Competition:Ensures fair competition among businesses, preventing monopolies and promoting consumer choice.
These areas are critical in maintaining integrity, trust, and compliance within procurement activities.
Exact Extract from Study Guide:
"Key areas of regulation that organisations must follow include data protection, ethical practice, health, safety and environment, worker rights, marketplace competition, and product safety standards."

Intracompany trading is when two departments in the same company do trading. AND when two companies owned by the same parent company do trading.
INTRA means 'within' - so it's doing business with yourself.