KPI, or Key Performance Indicators, are a set of metrics used to measure the performance of a business. In the purchasing department, KPIs are used to measure the efficiency and effectiveness of the department’s activities. The KPIs for the purchasing department are designed to track the cost of goods purchased, the speed of procurement, the accuracy of orders, the quality of products, and the satisfaction of customers. By tracking these KPIs, the purchasing department can identify areas of improvement and ensure that they are meeting their goals. The official business definition of KPI for the purchasing department is a set of metrics that measure the efficiency and effectiveness of the department’s activities. By tracking these KPIs, the purchasing department can ensure that they are meeting their goals and identify areas of improvement.
