7 Essential Procurement KPIs You Can’t Ignore

In today’s rapidly changing and competitive market, procurement teams are under pressure to deliver value beyond cost savings. Businesses are continually looking for areas where they can improve the efficiency of their procurement process while making it more sustainable. However, to achieve this, crucial decisions need to be made based on the right data and metrics; Tracking key performance indicators (KPIs) in the procurement processes is vital. While these metrics can vary from company to company, there are several fundamental procurement KPIs that should be considered, regardless of industry.