KPI, or Key Performance Indicators, are an important tool for measuring the success of a business or organization. For the sourcing department, KPIs provide a way to track the performance of the sourcing process and identify areas of improvement. KPIs can measure the efficiency of the sourcing process, the cost savings achieved, the quality of the products or services sourced, and the overall customer satisfaction. KPIs also provide a way to measure the success of the sourcing team in meeting their goals and objectives. By setting clear goals and objectives, and then measuring them against the KPIs, the sourcing team can identify areas of improvement and ensure that the sourcing process is as efficient and cost-effective as possible.
