Procurement KPIs, Metrics & Benchmarks

KPIs & Metrics to Measure and Manage Procurement Department Performance

Procurement

What are Procurement KPIs?

Procurement Key Performance Indicators (KPIs) and metrics measure the operational efficiency, productivity, and cost of sourcing products from suppliers. Procurement KPIs should be viewed from the overall process level, such as vendor management, strategic sourcing, logistics management, vendor compliance, and contract management all the down to the individual employee level.

Using KPIs to Manage Procurement Department Performance

The Procurement Department is responsible for identifying and screening potential suppliers, selecting a supplier, negotiating terms of payment and arranging any logistical concerns (shipping, delivery, installation, training, etc.). Procurement KPIs monitor the overall performance of the company operations and suppliers as they relate to the terms of the contract with the vendor.

KPI's & Data 

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Supply Chain Benchmarking Report

This 89-page supply chain KPI benchmarking report includes benchmarking data for 40 supply chain operations, or management, KPIs including Perfect Customer Order Rate, Backorder Rate, Days I...

Type : Benchmarking Report Bundle

KPI's & Data 

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Supply Chain Management KPI Encyclopedia

This document defines over 350 Supply Chain Management metrics, or KPIs, covering the Procurement, Materials Management, Master Data Management, Manufacturing & Production, Order Management...

Type : KPI Encyclopedia

Procurement KPIs: 7 Example Metrics for Measuring Purchasing and Supply

Procurement KPIs are analyzed in several different categories: vendor and product cost, supplier quality, on-time delivery service level, and internal operations productivity. These can be compared against other leading procurement department performance benchmarks and best practices to identify areas for improvement.

  1. 1.Total Expense: Procurement
  2. 2.Percentage of Packaging Outsourced
  3. 3.Cycle Time: Dock-to-Stock
  4. 4.Purchase Orders (POs) Processed per Procurement Employee
  5. 5.Cycle Time: New Supplier Setup
  6. 6.Customer Backorder Rate
  7. 7.Order Value Variance from Original Contract Price

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KPI's & Data 

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Supply Chain Benchmarking Report

This 89-page supply chain KPI benchmarking report includes benchmarking data for 40 supply chain operations, or management, KPIs including Perfect Customer Order Rate, Backorder Rate, Days I...

Type : Benchmarking Report Bundle

KPI's & Data 

int(1)
Supply Chain Management KPI Encyclopedia

This document defines over 350 Supply Chain Management metrics, or KPIs, covering the Procurement, Materials Management, Master Data Management, Manufacturing & Production, Order Management...

Type : KPI Encyclopedia

KPI's & Data 

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Supplier Order Documentation Accuracy Rate

The total number of supplier orders received with complete and correct documentation (invoice, ASN, packing slip, etc.) divided by the total number of supplier orders received over the same...

KPI Type : Quality

Formula : (Number of Supplier Orders Received With Correct Documentation / Total Number of Supplier Orders Received) * 100

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KPI's & Data 

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Undamaged Supplier Shipment Rate

The total number of orders received from suppliers without any damage divided by the total number of supplier orders received over the same period of time, as a percentage.

KPI Type : Quality

Formula : (Total Number of Undamaged Orders Received / Total Number of Orders Received) * 100

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On-time Supplier Delivery Rate

The number of orders received from suppliers on or before the committed delivery date divided by the total number of orders received from suppliers over the same period of time, as a percent...

KPI Type : Quality

Formula : (Total Number of Orders Received from Suppliers On Time / Total Number of Orders Received from Suppliers) * 100

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KPI's & Data 

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Spend Under Management (SUM)

The amount of company spending (direct, indirect and service-related spending) that is managed by the Procurement Department divided by total company-wide spend over the same period of time,...

KPI Type : Quality

Formula : (Dollar Amount of Expenses Managed by Procurement / Total Company-Wide Expense) * 100

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Vendor Payment Processing Cycle Time

The number of business days required to process an invoice from a company supplier, or vendor, from when the invoice is received by the Accounts Payable Department until it is approved and s...

KPI Type : Service

Formula : (Sum of Vendor Payment Cycle Times) / Number of Vendor Payments Approved and Scheduled to Pay

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KPI's & Data 

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Inventory Turnover

The number of times a company's inventory is sold and replaced over a set period of time. Can be calculated by dividing the cost of goods sold (COGS) by the average dollar value of inventory...

KPI Type : Productivity

Formula : Total Cost of Goods Sold / ((Inventory Value at Start of Measurement Period + Inventory Value at End of Measurement Period) / 2)

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Percentage of Backorder Lines

The total number of customer order lines delayed in a shipment due to the company being out of stock divided by the total number of order lines processed over the same period of time, as a p...

KPI Type : Service

Formula : (Number of Order Lines Delayed in Shipment / Total Number of Order Lines Processed) * 100

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KPI's & Data 

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Inventory Shrinkage

The total cost related to inventory shrinkage (broken, pilfered, spoiled, or stolen inventory) divided by the average dollar value of inventory on hand, as a percentage.

KPI Type : Quality

Formula : (Total Inventory Shrinkage Related Cost / Total Value of Inventory) * 100

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KPI's & Data 

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Warehouse Space Utilization

The amount of warehouse space being used (measured in square feet) divided by the total warehouse or facility space, as a percentage.

KPI Type : Quality

Formula : (Amount of Warehouse Space Used / Total Warehouse Space) * 100

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Peak Warehouse Space Utilization

The amount of warehouse capacity being used (measured in square feet) during peak seasons divided by total warehouse or facility capacity, as a percentage.

KPI Type : Quality

Formula : (Amount of Warehouse Space Used / Total Warehouse Space) * 100

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Honeycomb Percentage

The total amount of warehouse cube space (i.e., a single storage area or container) being used divided by the total warehouse cube space available for use at the same point in time, as a per...

KPI Type : Quality

Formula : (Amount of Warehouse Cubicle Space Used / Total Warehouse Cubicle Space) * 100

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Inventory Accuracy (Dollars)

The absolute difference between reported and physical inventory levels (measured in dollars), as a percentage, subtracted from 100%.

KPI Type : Quality

Formula : 1 - ((Absolute Value of Difference Between Reported Inventory and Physical Inventory / Value of Reported Inventory) * 100)

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Inventory Accuracy (Location)

The number of physical inventory locations/spaces that match up with the quantity and location in the reported inventory system divided by the total number of inventory locations/spaces coun...

KPI Type : Quality

Formula : (Number of Accurate Inventory Locations / Total Number of Inventory Locations Counted) * 100

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Inventory Turnover (Finished Goods Only)

An indication of how many times a company's inventory of finished goods is sold and replaced over a set period of time. Can be calculated by dividing the cost of goods sold (COGS) by the ave...

KPI Type : Productivity

Formula : Total Cost of Goods Sold / ((Inventory Value of Finished Goods at Start of Measurement Period + Inventory Value of Finished Goods at End of Measurement Period) / 2)

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KPI's & Data 

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Raw Materials Expense as a Percentage of COGS

The expense incurred through purchasing raw materials divided by the total cost of goods sold (COGS) incurred over the same period of time, as a percentage.

KPI Type : Cost

Formula : Materials and Components Expense as a Percentage of Plant Revenue, Days on Hand: Raw Materials, Inventory Turnover (Raw Materials Only)

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KPI's & Data 

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Inventory Turnover (Raw Materials Only)

An indication of how many times a company's inventory of raw materials is used and/or sold and replaced over a set period of time. Can be calculated by dividing the cost of goods sold (COGS)...

KPI Type : Productivity

Formula : Total Cost of Goods Sold / ((Inventory Value of Raw Materials at Start of Measurement Period + Inventory Value of Raw Materials at End of Measurement Period) / 2)

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KPI's & Data 

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Inventory Turnover (Work-In-Process Only)

An indication of how many times a company's inventory of work-in-process (WIP) materials move to completion and are replaced over a set period of time. Can be calculated by dividing the cost...

KPI Type : Productivity

Formula : Total Cost of Goods Sold / ((Inventory Value of WIP at Start of Measurement Period + Inventory Value of WIP at End of Measurement Period) / 2)

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KPI's & Data 

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Procurement Operating Expense as a Percentage of Managed Spend

The total operating-related expense (employee salaries and benefits, occupancy costs, etc.) incurred by the Procurement Department divided by the dollar amount the Procurement Department has...

KPI Type : Cost

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Managed Spend per Procurement Employee

The total dollar amount the Procurement function has spent on purchases divided by the number of employees working within the Procurement function over the same period of time.

KPI Type : Productivity

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Cost Avoidance as a Percentage of Managed Spend

The dollar amount saved through cost avoidance divided by the total dollar amount of managed spend over the same period of time, as a percentage.

KPI Type : Quality

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Cost Reduction as a Percentage of Managed Spend

The dollar amount saved through cost reduction divided by the total dollar amount of managed spend over the same period of time, as a percentage.

KPI Type : Quality

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Supply Chain Expense as a Percentage of Total Revenue

The expense incurred through all supply chain processes and procedures (i.e., all costs related to distribution, logistics, procurement, materials management, etc.) divided by the total reve...

KPI Type : Cost

Formula : (Supply Chain Expense Incurred / Total Company-Wide Revenue Generated) * 100

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KPI's & Data 

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Materials and Components Expense as a Percentage of Plant Revenue

The expense incurred through purchasing production materials and components (i.e., raw materials) divided by the total revenue generated by the plant, or production facility, over the same p...

KPI Type : Cost

Formula : (Materials and Components Expense Incurred / Plant Revenue Generated) * 100

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KPI's & Data 

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Days on Hand: Raw Materials

The total value of raw materials in the company's inventory divided by the average value of raw materials used in a single day.

KPI Type : Quality

Formula : (Total Value of Raw Materials Inventory / Average Value of Raw Materials Used per Day)

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KPI's & Data 

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Days on Hand: Finished Goods

The total value of finished goods in the company's inventory divided by the average cost of goods sold (COGS) in single day.

KPI Type : Quality

Formula : (Total Value of Finished Goods Inventory / Average COGS per Day)

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Days Inventory Outstanding

The total dollar value of the inventory-on-hand divided by the average cost of goods sold (COGS) per day.

KPI Type : Quality

Formula : (Total Dollar Value of Inventory / Average COGS per Day)

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KPI's & Data 

int(1)
Procurement KPI Encyclopedia

This document defines over 50 Procurement KPIs, including metric definitions for Strategic Sourcing, Vender Compliance & Audit, Vendor Contract Management and more. These KPIs are further ca...

Type : KPI Encyclopedia

KPI's & Data 

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Inventory Value: Replacement Parts

The total dollar value of material considered to be replacement parts within the company's inventory at a certain point in time. Replacement parts are materials or components available to be...

KPI Type : Quality

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