Procurement KPIs serve as a performance measurement tool capable of evaluating and monitoring an organization's procurement management efficiency. This Procurement KPI Dashboard Excel template assists corporations in optimizing and controlling spending, quality, time, and costs.
Procurement KPIs are more than just metrics; they are the key to evaluating and monitoring your organization's procurement management efficiency. Our template ensures you stay on top of your procurement strategies, overarching process goals, and business objectives.
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The second KPI displayed on that procurement KPI dashboard focuses on the compliance rate per category: the highest compliance rate goes to the first category, which also has the highest number of suppliers, with a 75% rate of contract compliance for 610 of them. The lowest rate goes to the fourth category with 9% contract compliance for 29 suppliers.
Moving forward onto the final metric on this procurement KPI dashboard, we have an illustration of the average procurement cycle time expressed in days. This cycle time covers the end-to-end ordering process, from placement to the confirmation, order delivery, and finally the invoicing. Here, we see that the overall average is of 7.2 days, with the moment between the confirmation and the delivery of the order for the invoice being the longest (5.2 days).
Working with an interactive purchase dashboard summarizing the procurement department's activities and relationship with suppliers, or highlighting procurement's actual results (as we will see on our last dashboard) will not only help in managing the department, but also in building its brand. These dashboards are a real help for top management decision-makers and strategy builders. Having an overview and monitoring all your processes from purchase orders management to knowing your different types of suppliers will let you optimize your procurement process and more generally, the profitability of your company.
Our next procurement analysis dashboard focuses on quality related KPIs between the department, and its vendors, and suppliers. Quality, as you probably know, is extremely relevant in procurement, and by monitoring certain metrics, you can optimize your relationships with suppliers, generate better contracts, and maximize business value. A supplier dashboard such as in our visual example can help you on your way.
On the left side, we can see a clear overview of the most important stats, starting with the number of suppliers. You can see that the value ordered has increased by 2% in comparison to the previous months, while the value rejected decreased, along with the vendor rejection rate. This is a good signal that the ordered products have slightly better quality. Return to vendor costs, emergency purchase ratio, and spend under management have all shown a positive improvement in comparison to the previous month which makes your efforts worthwhile, and you should continue improving your established strategy. On the top right side of the vendor management dashboard, you can find the return costs analysis by the top 5 suppliers. The costs and rejection rate are critical indicators of the standard of the procurement department and they should be kept at a minimum. In our example, you can see that some vendors have higher rejection rates and costs, but some have lower. It makes sense to analyze what creates such results and if both can be lowered as much as possible.
Moving on to the second top KPI, on this procurement dashboard example our focus-supplier has 85.3% of on-time supplies, which is within the range pre-set, and an average of 93.5% availability. The supplier's availability: it evaluates their capacity to respond to demand by measuring the number of times goods were available on their side. It gives you an idea of the reliability you can place in your suppliers, and should ideally stay over 90%. For our specific supplier, the evolution of the availability has also been uneven over the last 12 months, and was recorded three times beneath the minimum of 90% availability. However, since then, it has only been on the increase.
To continue, another key indicator on our procurement dashboard is unfortunately too often overlooked by top management, because it does not directly affect the income statement and does not appear on the bottom line in a tangible, quantifiable way. Still, the cost avoidance has a positive impact as it represents all the potential future costs avoided by certain measures, like replacing parts of an equipment before they fail and damage other parts, or negotiation successes bypassing cost increases on future purchases. These soft savings are thus creating strategic value by targeting strategic spends like new investments or new technologies. Monitoring them alongside the hard ones (of cost reduction) is a best practice to adopt, as we can see with the metrics on the top-left part of the purchasing dashboard, where they are expressed as a percentage. The cost avoidance for this year amounts to 7.3%.
Moving on, the dashboard offers operational KPIs that allow you to monitor the day-to-day business operations. For example, the purchase price variance (PPV) is the difference between the purchasing price of an item or service and the actual cost of it. A positive price variance means the procurement team is effective in getting favorable pricing deals, while a negative variance can mean that the actual cost is higher than the standard one. Paired with this, you get insights into the spend under management, where you can observe the amount of spend that is managed by procurement out of the total company spend.
I am beginning to wonder if excel is really on demand in the market for making dashboards? I don't have connections in the field unfortunately, so I hope that someone relevant adds to the discussion.
These handpicked PPTs act as a crucial business tool for obtaining an overview and summary of procurement cost data in a visual format. With the help of these dashboard templates, you will be able to evaluate Key Performance Indicators (KPIs) that affect you and base your decisions on facts.
You can optimize every acquisition procedure within your company with the help of these slides on procurement KPIs. A summary of the metrics that any procurement department uses is the USP of this template, Invoice count, due dates, categorization of spends by supplier payment terms; by entity; by category, and by country are just a few of the KPIs. Working with this interactive dashboard will not only help manage the department but will also help build its brand. These dashboards are an asset for strategists and decision-makers in top management. Use this dashboard to improve your procurement process and improve profitability. This slide enables you to gain advantages; from automating your procurement reports to producing stunning interactive visuals, we have all bases covered. Download it now for a deep dive into procurement.
Spend analysis is the practise of examining purchasing expenses to reduce costs, increase productivity or fortify supplier relationships. During the procurement process, use this expert dashboard template to improve performance. The analysis of money spent it offers helps you save cost, improve contract compliance. This editable diagram will act as a yardstick for assessing advancements and a reliable source for choosing strategies (both short-term and long-term). This PowerPoint Presentation Template is simple to edit. Download it now to analyze costs!
When managing multiple contracts and dealing with multiple vendors, effective mapping is required to expedite contract approval and improve vendor relations. Use our risk assessment dashboard that displays the status of procurement contracts to determine which vendors deliver the best results and prioritize contracts. This presentation template is simple to customize and does away with the need for manual contract evaluation. Lower the risk of below par use of resources with their allocation to unprofitable deals with the download of this presentation template now!
Use our best-in-class PPT Template to simplify purchase order process. Purchase orders between the department, its suppliers, and its vendors are the main focus of this dashboard for procurement analysis. With this presentation template, take the roomful of your audience through top-five suppliers, procurement ROI, etc. Download it now!
Use this PPT Template to comprehend phase-based cost and schedule KPIs, as well as suitable mitigating strategies, to enhance construction performance during Engineering, Procurement and Construction (EPC) Phases and conserve resources. This presentation template will give you identify your blind spots. Outsource the tedium to us with a download of this PPT Template, and focus on delivering that flawless, magical presentation. This KPI dashboard helps construction companies forecast costs and schedules for projects with far more precision and conviction. Download now.
This dashboard template allows store owners, managers, and stakeholders to measure monthly performance in each area. It helps them to identify the channels and efforts leading to a better ROI, thereby making better data-driven decisions.
This inventory template from Excel Champs is easy to use, with a free Lite Version, and a paid Pro Version. First of all, both versions have a sleek dashboard and an inventory in and out sheet. The Pro version allows you to manage returns and generate invoices and supplier reports.
Need something more sophisticated than a project timeline? Look no further than this Gantt chart template by Vertex42. You can organize tasks, change dates and track the status of tasks using easy-to-master excel functions and formulas. e24fc04721
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