Reporting procurement performance in an accurate and timely manner to the appropriate decision makers in an organisation is vital.
This assumes that there are procurement performance metrics in existence - Procurement is the life blood of an organisation in managing costs, risks, supply chain performance, supplier quality performance and continuous improvement. The organisation must have early warning of supply disruptions and have detailed knowledge of supply chain risks to inform the corporate risk register.
This data set of Procurisk® will probe the existence and range of procurement performance metrics and their visibility within the organisation. The corporate benefits will include that of placing accountability on procurement for a range of performance metrics that extend far beyond the simplistic reporting of 'buying at the right price' and 'getting deliveries on time'. It is a fact that in many organisations, procurement only comes under scrutiny when there is a crisis.
This data set can be applied to a procurement department and be drilled down to buyer level, recognising that a defensive approach will not lead to enhanced performance.