Procurement Dashboard is a reporting tool that determines and displays the performance of procurement packages and purchasing processes through a range of performance indicators and measures. It reports on the status of a company’s relationships with suppliers and contractors. Procurement dashboard consists of performance data visualization tools, including supplier detail charts, buyer summary diagrams, purchase order reports, inventory spreadsheets, cost estimates, and more.
All information provided by procurement dashboard is consolidated and up-to-date. It relates to both the financial and non-financial performance status of procurement activities which can be generally divided into the following directions:
- Purchasing of products
- Procurement of services
- Management of negotiations with suppliers and contractors
These three directions of procurement activities allow purchasing managers to monitor and measure the process of obtaining goods and services – from specification development and supplier research through to receipt and approval of invoices for payment.