Here are some key ways to measure procurement progress:
- % Progress based on weighted value of POs, broken down into steps like PO placement, material receipt, inspection, etc.
- Milestones like:
- % of PO value placed
- % of line items with approved submittals
- % of line items where material is received/inspected
- % of line items fully delivered
Tracking procurement progress through milestones helps ensure critical items are on track and identifies delays early. Milestones should reflect major stages from PO placement through delivery and inspection. This provides a more objective view than % progress alone.
Both % progress and milestone tracking are needed to effectively monitor procurement.