Procurement Performance Management (PPM) is an official business term that has been adopted within the procurement industry. It refers to the process of monitoring, measuring, and managing the performance of procurement operations and activities. This can include such things as supplier performance, cost savings, contract terms, and risk management. PPM is used to measure and assess the effectiveness of the procurement process, as well as to identify areas for improvement, and to develop strategies to optimize the overall performance of the procurement process. The goal of PPM is to ensure that the organization is able to maximize the effectiveness of its procurement activities and to minimize risk. This can be done through tracking performance metrics and setting benchmarks, as well as by monitoring and analyzing data to detect potential issues. Additionally, PPM can help to ensure that the organization’s procurement operations are meeting the highest standards of quality and efficiency.