Strategic sourcing KPIs (Key Performance Indicators) are metrics used to measure the effectiveness of an organization’s strategic sourcing activities. These KPIs are designed to help organizations identify areas of improvement and track the progress of their sourcing initiatives. Common KPIs include cost savings, supplier performance, and process efficiency. Cost savings measure the amount of money saved by utilizing strategic sourcing practices. Supplier performance measures the quality of the products and services received from suppliers. Process efficiency measures the amount of time and resources required to complete the sourcing process. Strategic sourcing KPIs are essential for organizations to measure the success of their sourcing initiatives and ensure that they are getting the best value for their money. By tracking these KPIs, organizations can make informed decisions and optimize their sourcing strategies to maximize cost savings and supplier performance.