Diagnosing bottlenecks in the procurement process, understanding where contract outcomes can be improved, and prioritizing systemic challenges require the kind of clarity provided by data. Procurement data is foundational to running an efficient, effective, proactive, and strategic purchasing office. If you aspire to make the procurement process faster, work with more diverse firms, leverage procurement a a strategic function, or use procurement to advance your government's economic development or social impact goals, you'll want to start tracking and using Key Performance Indicators (KPIs).
In this how-to guide, you'll learn how to start using data to track the effectiveness of procurement operations and how to discuss these metrics regularly within your purchasing team and how to use them as a tool to elevate challenges and opportunities to your leadership.