Attributes of a Good Procurement Organisation are?

The ROSMA Performance Check Benchmarking and the Voice of the Stakeholders research illustrate what good looks like for high-performing teams.

The top attributes of good procurement organisations are:

1. Strong procurement teams are recognized by their stakeholders as integral business partners with a seat at the business leadership table.

2. All stakeholders, from both business and finance, say that procurement leaders are accountable for results, stakeholder satisfaction, and team productivity

3. Procurement has well-defined and respected performance metrics that all stakeholders understand and support. 

4. Finance and procurement jointly, routinely and thoroughly evaluate procurement performance. 

5. Principle stakeholders (C-suite, finance, and the business?) are aware of and understand procurement value drivers and performance ranges.

6. Principal stakeholders have a rich understanding of how procurement creates and delivers hard value to the business’ financial results. 

7. Good to great procurement teams deliver at least seven times their cost in hard financial value to their organizations.

Read the original article in Supply Management 13th Dec 2016