In order to clearly demonstrate its value to the organizations and to achieve continuous improvement, procurement organizations need to measure performance in a variety of ways. However, most organizations aren't using the most useful metrics.
“If you polled most procurement executives today, about their number one metric, and what they are measured against, it remains cost reduction. That's still importnat but there are other emerging metrics that allow procurement organizations to find new sources of value,” said Richard Waugh, vice president of corporate development at Zycus.
We'll be talking with Waugh about his top 10 list of procurement metrics to find out both about how traditional metrics can remain useful and how new metrics should be applied for additional information.
Join us in the EBN Chat Area tomorrow, Thursday, October 30, at 2:00 p.m. EST (11:00 a.m.) PST for a lively discussion. In the meantime, click on the image below to see the top 10 procurement metrics that add value to procurement performance.
— Hailey Lynne McKeefry, Editor in Chief, EBN