Procurement Performance Metrics is a term used within the business world to refer to the measurements taken to assess how well a company is doing with regards to the procurement processes they employ. These metrics are used to identify areas in which the company can improve its procurement processes, as well as areas where they are already performing well. The metrics are typically defined by the company’s procurement department, and they can include things such as the number of suppliers used, the average delivery time of orders, the cost of goods, and the quality of the goods purchased. Additionally, the metrics may also measure how well the procurement team is communicating with the suppliers and evaluating their performance. Having a well-defined set of procurement performance metrics in place allows the company to make better-informed decisions, improve their procurement processes, and ultimately ensure the company is getting the best value for their money.