Procurement Analytics: Key Performance Indicators
The system’s analytical tools are designed to assess the effectiveness of procurement processes. The assessment results are presented as a consolidated dashboard and dozens of reports that visualize key procurement data. Reports on each KPI — from budget savings to the percentage of unplanned purchase orders — are generated in an intuitive format. It means that important indicators can be assessed by a quick glance at the dashboard.
Without involving programmers and spending money on analysts, you can get answers to important questions:
- How sourcing execs minimize costs
- How funds are used throughout the company, what are the spending trends
- How KPIs are met
- Which suppliers are actively involved in procurement
- What is the share of contract purchases
The system’s analytical tools are simple, intuitive, and highly informative for users of any level, from a procurement department employee to a top manager. Standard KPIs for the procurement department are calculated automatically. The system has pre-configured reports and dashboards for the most important metrics that describe suppliers’ performance, reliability, and delivery cost. The system can also calculate the procurement department’s integral ROI (return on investment).
Basic reports include information on:
- The ratio of the various categories of goods and services procured
- The purchase price dynamics
- Savings: historical, budget, and tender
- Shares of planned and urgent purchases
More sophisticated analysis of procurement-related information is available through a simple export of source data to specialized BI systems.
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