This Procurement KPI Dashboard will help you first understand the definition and measurement of the Procurement KPIs. This easy-to-customize Excel Tool helps you monitor, measure, and control Key Performance Indicators for your business.
This key Procurement metrics dashboard helps you keep your Targets SMART (Specific, Measurable, Attainable, Realistic, and Timely) and drive Continuous Improvement in Your Business and Supply Chain. According to Handfield, et.al (2009)., This Dashboard can result in:
- Systematic measurement, that can lead to better performance
- Improved communication throughout the supply chain
- Identifying areas for improvement
- Providing the opportunity for feedback
- Driving motivation and direct behavior towards expected results
“If you cannot measure it, you cannot improve it” – Lord Kelvin.
Procurement KPIs are a sort of performance measurement tool that can evaluate and monitor the efficiency of an organization’s procurement management. This Procurement KPI Dashboard Excel template can help a corporation to optimize and regulate spending, quality, time, and cost.
Additionally, procurement KPIs help businesses keep track of their overall process goals, procurement strategies, and business objectives.
Recommended Procurement KPIs
I could have come up with a list of 30 plus Procurement KPIs in various Categories under Procurement. But after 16+ years of experience, I have come up with the list of 16 Procurement KPIs under the following Performance Attributes which should cover all the bases of the Procurement Function.
Procurement KPI Dashboard Demo & Tutorial
Recommended Reading Linked with Procurement KPI Dashboard Examples
Brewer, P. C., & Speh, T. W. (2000). Using the balanced scorecard to measure supply chain performance. Journal of Business Logistics, 21(1), 75.
Dilbert ‘Performance Measurement at: https://dilbert.com/strip/1996-07-18 and Handfield, et al. (2009)