{"id":1377,"date":"2014-09-17T08:53:40","date_gmt":"2014-09-17T03:23:40","guid":{"rendered":"https:\/\/stagingwww.zycus.com\/part-ii-strategic-footprints-the-holy-trinity-of-procurement-performance-metrics"},"modified":"2023-10-19T05:45:42","modified_gmt":"2023-10-19T05:45:42","slug":"part-ii-strategic-footprints-the-holy-trinity-of-procurement-performance-metrics","status":"publish","type":"post","link":"https:\/\/dev.zycus.com\/freshz\/blog\/supplier-management\/part-ii-strategic-footprints-the-holy-trinity-of-procurement-performance-metrics","title":{"rendered":"Part II \u2013 Strategic Footprints \u2013 The Holy Trinity of Procurement Performance Metrics"},"content":{"rendered":"<p>Extending the thread that I left behind in my last blog on the <i>nirvana<\/i> of procurement performance metrics, here I am to offer my personal take on the second of this triad.\u00a0 Do, remember, the triad itself is a compilation of TEN must-analyze-metrics by our author, Richard Waugh, VP, Corporate Development at Zycus.\u00a0 So when we say &#8220;three&#8221;, we are actually talking of the three key <em>areas<\/em> of performance measurements that procurement\u2019s got to track.<\/p>\n<p>Just to recap, in the <a href=\"https:\/\/dev.zycus.com\/freshz\/blog\/supplier-management\/part-ii-strategic-footprints-the-holy-trinity-of-procurement-performance-metrics\">first blog <\/a>we christened the first of the holy trinity of metrics as <strong>\u2018Streamlining metrics\u2019<\/strong>. \u00a0We also concluded how your ratings on them serve as eligibility criteria of sorts for you to be able to perform well in the second one \u2013 The Supplier Management Metrics.<\/p>\n<p>The second one then, you would notice, focuses very clearly upon <strong>getting the best out of the choicest<\/strong><b><i>.\u00a0 <\/i><\/b>The kind of improvements you should be tracking here are &#8211; aggregation of as much spend as possible with as fewer suppliers as possible;\u00a0 right-size staffing per billion dollar of your spend;\u00a0 healthier percentage of resources allocated to strategic procurement activities;\u00a0 heavier resource allocation towards managing the critical-most suppliers;\u00a0 and top line impact as a consequence of supplier innovation.<\/p>\n<p>For sure the world has begun to ask more of procurement than just documentation and timely invoice processing.\u00a0 Looking at the metrics then, I can confidently say that this arm of the triangle can be christened the <strong>\u201cstrategic footprints\u201d<\/strong>which the procurement team leaves on its way to revolutionizing the paradigm of procurement\u2019s influence on business performance.\u00a0 And the first step of strategy looks to be <strong>prioritization<\/strong><b>. \u00a0<\/b>Talk about staying relevant.\u00a0 Talk about having a strategic impact.<i> <\/i>It\u2019s right here in these supplier management metrics!<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Extending the thread that I left behind in my last blog on the nirvana of procurement performance metrics, here I am to offer my personal take on the second of this triad.\u00a0 Do, remember, the triad itself is a compilation of TEN must-analyze-metrics by our author, Richard Waugh, VP, Corporate Development at Zycus.\u00a0 So when [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":100991,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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Procurement Platform","first_name":"Zycus","job_title":"","user_url":"https:\/\/dev.zycus.com\/freshz","description":"Zycus is an Agentic Procurement Platform that is redefining procurement from Source-to-Pay to Intake-to-Outcomes. Its unified platform combines native Intake, agentic AI, and an end-to-end S2P core to help enterprises drive real procurement outcomes \u2014 not just transactions. Recognized by Gartner, Forrester, IDC, and customers worldwide, Zycus is shaping the next generation of procurement with the Merlin Agentic AI Platform."}],"_links":{"self":[{"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/posts\/1377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/comments?post=1377"}],"version-history":[{"count":0,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/posts\/1377\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/media\/100991"}],"wp:attachment":[{"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/media?parent=1377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/categories?post=1377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/tags?post=1377"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/ppma_author?post=1377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}