Download The Procurement Metrics That Matter Report
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Discover the untapped procurement and supply chain metrics that the highest performing teams rely on to make smarter decisions.
What you will learn:
- 11 key procurement metrics that top-performing organizations track to demonstrate strategic value
- Why these performance metrics are crucial
- Guidance on how to use procurement data to enhance your team's performance
How to use procurement metrics strategically
By uncovering procurement data such as department-specific approval times, teams can:
- Leverage the data to ensure stakeholders are prioritizing purchase requests
- Identify issues across the approval process
- Improve stakeholder buy-in
Stakeholders may be being asked too late, too early, and without the right information. By tracking the procurement metrics that matter, you can fix these issues, improve approval speed, and increase the team's internal reputation.
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Why are deeper procurement metrics crucial for success?
By tracking the right KPIs, high-performing teams can demonstrate procurement ROI and justify:
- Further investment in the department (spend management software, procurement orchestration tools, and RFP automation).
- Supporting talent development
- Investigating process and workflow inefficiencies
They can also set data-driven goals such as reducing turnaround times or improving supplier relationships.
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