A universal truth in any organization despite size, industry or strategic vision is this: “You can’t measure what you don’t know.”
It seems like a fairly simple observation, yet many companies today lack a basic metric tracking and reporting process. One contributing factor is the intimidation of finding a place to start. In a data driven world filled with sophisticated metrics and dashboarding tools, it can seem like an investment just to get started.
Fortunately, there are a few basic metrics that are fairly straightforward to implement and track, and the value they bring to the success and reputation of the procurement department is significant.
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