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Q:

Measuring Procurement Performance

Asked on 1 February

Background: Currently, the only measure against which my departments performance is monitored is purchase price variance (against budget rather than last price paid). In reality, this is only measuring our ability to estimate market price movements as opposed to the value we bring to the business. I am looking to introduce an additional measure to help demonstrate our value. Please provide your perspective to the question below.

Could you please share any simple to quantify but effective measure that their business values as a way of demonstrating their performance?

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A forum dedicated to addressing members’ procurement strategy development and general operations questions in areas such as procurement policies and codes of conduct, e-procurement, and key performance indicators (KPIs). For category strategy questions, please visit one of our Category Management forums. For questions around talent management and procurement organizational structure, please visit our Organizing and Managing Talent Forum.

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