Procurement KPI Dashboard (Excel Template)

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Welcome to the ultimate solution for mastering Procurement metrics – our Procurement KPI Dashboard Excel template. This powerful tool is meticulously crafted to redefine how you comprehend and measure essential metrics in your Procurement process. Easy customization options put you in control of monitoring, measuring, and optimizing key performance indicators crucial to your business’s success.

The pivotal Procurement metrics dashboard aids in maintaining SMART(Specific, Measurable, Attainable, Realistic, and Timely) targets, driving Continuous Improvement within your Business and Supply Chain. As stated by Handfield et al. (2009), this Dashboard’s benefits encompass:

Systematic measurement, leading to improved performance.
Enhanced communication throughout the supply chain.
Identification of areas for enhancement.
Provision of opportunities for feedback.
Boosting motivation and aligning behavior toward the anticipated outcomes.

“If you cannot measure it, you cannot improve it” – Lord Kelvin.

Procurement KPIs serve as a performance measurement tool capable of evaluating and monitoring an organization’s procurement management efficiency. This Procurement KPI Dashboard Excel template assists corporations to:

Optimize Quality
Control Spending
Improve Time and Costs

Moreover, procurement KPIs aid businesses in tracking their overarching process goals, procurement strategies, and business objectives.

Also Read: Supply Chain KPI Dashboard

Download Free Procurement KPIs Cheat Sheet PDF

Key Features and Reasons to Buy the Procurement KPIs Dashboard (Excel Template):

Unlock the potential of your Procurement process with our KPI Dashboard Excel template, offering:

SMART Target Maintenance: Ensures Specific, Measurable, Attainable, Realistic, and Timely targets are consistently met.
Continuous Improvement Driver: Facilitates ongoing enhancements within your business and supply chain.
Effective Communication: Fosters improved communication across the entire supply chain.
Identifying Enhancement Areas: Pinpoints areas for improvement for strategic growth.
Feedback Opportunities: Provides opportunities for valuable feedback loops.
Motivation and Alignment: Boosts motivation and aligns behavior towards anticipated outcomes.
Effortless Customization: Tailor the dashboard to fit seamlessly with your unique business needs.
Optimizing and Controlling Spending: Streamlines processes to optimize and control procurement costs.
Quality, Time, and Cost Management: Assists in achieving excellence in quality, time, and cost parameters.
Time Efficiency: Save valuable time by automating the measurement and monitoring of KPIs. This allows your team to focus on strategic tasks rather than routine data collection. You can save 6-8 days of dashboard production time.
Industry Best Practice: The Supply Chain KPI Dashboard shows all standard supply chain KPIs used in many industrial verticals.

Procurement KPIs are more than just metrics; they are the key to evaluating and monitoring your organization’s procurement management efficiency. Our template ensures you stay on top of your procurement strategies, overarching process goals, and business objectives.

16 Recommended Procurement KPIs to track in 2024

I could have compiled a list of 30+ Procurement KPIs across various categories within Procurement. However, drawing from over 16 years of experience, I’ve curated a selection of 16 Procurement KPIs organized under the following Performance Attributes. This list should comprehensively address all essential aspects of the Procurement Function.

How To Measure Procurement KPIs?

how to measure procurement kpis

Create Your Own Procurement KPIs template in Excel

As you have identified additional KPIs in the Actual Sheet, you will need to set targets for your teams for these KPIs in the next sheet i.e. Target Sheet. This will make it easier for you to make comparison with year-to-year values and future target values.

Also Read: Logistics KPI Dashboard Excel Template

Furthermore, the next few sheets will give you a visual representation of the values that will help you understand trends forming in the available charts. It will visually represent the team’s effort and work on one screen. The KPI charts would tell you the summary:

Cost
Quality
Time
Spend Management

procurement kpis

Input

supply chain KPIs

Output

supply chain KPIs

Frequently Asked Questions (FAQs):

Q: What makes this Procurement KPI Dashboard Excel template unique?

A: Our template offers customization, facilitating tailored solutions for your business.

Q: How does this dashboard contribute to Continuous Improvement?

A: It systematically measures and identifies areas for enhancement, driving ongoing improvement.

Q: Can I use this template for different procurement strategies?

A: Absolutely, it is designed to adapt to various procurement strategies and objectives.

Q: How does this template help in controlling procurement costs?

A: By providing real-time insights, it empowers you to optimize and control spending effectively.

Q: Is technical expertise required to use this Procurement KPI Dashboard?

A: No, it is user-friendly, ensuring easy navigation and customization for all users.

Q: How can I access or modify data entry (Master Data)?

A: Click on View, then select Header. Unhide columns O to AH. You will then be able to access the data entry/Master Data. A concise PowerPoint presentation is also available for download, outlining the steps.