Procurement Metrics Design & Dashboarding Service
Demonstrate progress on management-driven procurement and sourcing goals in an organized and profound way with Source One’s Procurement Metrics and Dashboarding Consulting Services.
The role of procurement has evolved from a reactive buying group, to a more strategic value-generating organization. But communicating Procurement’s value to the business effectively requires the right metrics, data, and visualization capabilities. Since 1992, Source One’s team of procurement transformation experts has helped companies develop metrics and Key Performance Indicators for their Procurement groups and implement simple yet effective dashboarding to communicate those Procurement metrics.
The day-to-day business of setting policies for purchases, enforcing competitive bid rules and spend thresholds, and requiring stakeholders and functional owners to justify expenditures and requirements doesn’t always endear Procurement and Strategic Sourcing to the rest of the organization. However valuable these activities are to ensuring the business profitability, without the right metrics and reporting capabilities to truly communicate that value to stakeholders, Procurement’s ability to operate at its full capacity is limited. Even the most sophisticated procurement teams can lack the right knowledge on designing valuable metrics and the resources to capture and interpret the data to report on those metrics.
Source One’s procurement and sourcing metrics experts can help.
We understand the full breadth of procurement reporting needs and how to manipulate and interpret available data from a variety of sources to produce reports that have the maximum impact. With our procurement data science discipline, Source One has experience with the various procurement dashboard tools available – both client tools for pulling the data and data visualization to report the metrics in a clear format allowing stakeholders the ability to drill down to the level of granularity needed.
Are you ready to start defining and communicating Procurement’s Value more effectively? Contact Source One’s Procurement Metrics & Dashboarding experts today.
Procurement Metric Maturity
To demonstrate procurement’s value, you must collect relevant metric data, organize it accordingly, process the information in a way that makes sense for your Strategic Sourcing & Procurement goals, and present the information in way that is easy for business stakeholders to understand.
Ask the following key questions to begin the conversation internally about your Procurement Metric Maturity:
What Procurement metrics are you tracking?
- Are they the right metrics for your Sourcing & Procurement Team?
- Do they capture all relevant aspects of your Sourcing & Procurement team’s performance?
- Are some of them distractions or outdated and in need of refinement?
Why are you tracking these Procurement metrics?
- Do they further your Sourcing & Procurement Team’s progress toward defined cost reduction or value-generating goals?
- Do these Procurement metrics matter to functional stakeholders?
How are you validating and reporting these Procurement metrics?
- Do you have the right procurement data?
- Are you using the right tools to communicate them?
- Do you have the right people tracking and reporting in a way that will align with and make sense to the company’s various stakeholders?
- Are you routinely reviewing and refining your approach to Procurement metrics?