What is Procurement KPI?

A procurement key performance indicator, or KPI, is a metric to track the important aspects of buying or procuring goods or services and to measure the procurement organization’s performance. Key performance indicators also help procurement leaders track and manage their procurement teams.

As procurement continues to drive value beyond cost savings, KPIs have become an indispensable tool to further optimize procurement by facilitating informed, data-driven decisions.

Related Terms

What is P2P?What is Procure To Pay?What is Procurement Data Management?What is Procurement Technology?What is Procurement Transformation?