There are all types of dashboard promises out there. Is the data really useful?
Todays post is by Ron Southard CEO at SafeSourcing Inc.
At a minimum the following data fields; start date, event date, award date, letter of intent date, contract date, initial delivery date, total low company quotes, total all low quotes, award of business quotes are the basis for e-procurement KPI’s that will help to measure how your procurement department is performing and progressing over time and where opportunity for additional savings exist.
Wit the above data you can measure the following daily by department and associate assigned to that project. You should be able to actually click on any of the KPI’s to drill down for further analysis and causal data.
1. Opportunity lost cost results
2. Timeline analysis of a project launch to event, letter of intent and contract
3. Low quote company versus all low quotes or missed savings
4. Average days to complete event
5. Average days to complete award
6. Average days to complete LOI
7. Analysis of supplier count and line item count versus where savings were maximized.
8. Number of events occurring above and below average.
9. Average or mean performance by KPI
10. Deviation or the best and worst events by KPI
If you had these KPI’s on your desktop of mobile dashboard, how much easier would it be for you to manage your business? If you don’t have this data please contact a SafeSourcing?Customer Services Account Manager to find out just how easy it is to retrieve.
We look forward to and appreciate your comments.