Do you know how your procurement is really performing?
The Right Measurements Mean the Right Results : KPIs
Procurement KPIs are not always simple.
For example, Spend Matters UK noted the most useless measurement that is commonly used.
Number of suppliers per £ million third-party spend took the #1 spot. Clearly with the right procurement system, the number of suppliers should be insignificant to amount spent. Not to mention, this measurement is potentially harmful if companies used it to exclude better suppliers.
Over the next two weeks, we are going to talk about some of the most important KPIs and how they really affect your efficiency in procurement.
Here is a sneak peek of KPIs we will review in-depth each day.
Spend Compliance Savings
Process Improvement Savings
Price Reduction Savings
- Sourcing Better Unit Price
- Sourcing Increased Capture
- Tactical Buying
- Continuous Improvement
Follow Vroozi Measurement Web Series. At the heart of KPIs…
For a more hands-on look at how procurement software influences KPIs, try Vroozi’s Free Trial today.