Which key performance indicator (KPI) can be configured in procurement analytics?

In procurement analytics, the correct answer encompasses all the listed key performance indicators. Each of these KPIs plays a significant role in evaluating the effectiveness and efficiency of procurement processes.

The supplier on-time delivery rate is crucial as it tracks the reliability of suppliers in delivering goods within the agreed timeframes. Monitoring this KPI helps organizations assess supplier performance and manage relationships effectively.

The supplier quality rating is another vital metric that evaluates the quality of products delivered by suppliers. Keeping track of this KPI allows businesses to ensure that suppliers are meeting the required standards, which is essential for maintaining quality in production and inventory management.

Average procurement cycle time measures the time taken from the initiation of a procurement request to the fulfillment of that request. This KPI is significant for understanding the efficiency of the procurement process. By monitoring cycle times, organizations can identify bottlenecks and streamline operations to achieve faster procurement processes.

By configuring and analyzing these KPIs, organizations can gain comprehensive insights into their procurement operations, leading to improved decision-making and performance. Therefore, the inclusion of all these KPIs as configurable options in procurement analytics highlights the capability of the system to provide a holistic view of procurement performance.