Average cycle time in days to set up a supplier in the procurement system

This measure calculates the number of calendar days (including weekends) that elapse to set up a supplier in the procurement system. It is a Cycle Time measure that helps companies analyze the duration of the "manage suppliers" process from beginning to end.

Benchmark Data

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Measure Category:
Cycle Time
Measure ID:
106476
Total Sample Size:
1,798 All Companies
Performers:
25th
- Median
- 75th
-
Key Performance
Indicator:
No

Compute this Measure

Units for this measure are days.

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Average cycle time in days to set up a supplier in the procurement system

Key Terms

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Cycle Time

Cycle time is the total time from the beginning of the process to the end. This includes both time spent actually performing the process and time spent waiting to move forward.

Measure Scope

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Cross Industry (7.3.0)

  • 4.2.5.1 - Monitor/Manage supplier information (10299) - Examining procurement and vendor performance. Report delivery timing and the quality of the materials procured through different vendors.
  • 4.2.5.2 - Prepare/Analyze procurement and vendor performance (10300) - Assisting the production and inventory processes through the information and reports created. Use the information and metrics of the procurement and vendor performance to enhance or improve the production process.
  • 4.2.5.3 - Support inventory and production processes (10301) - Support inventory and production processes by analyzing impact of procurement decisions and collaborating to constantly improve. (For example, perhaps minimum order requirements could be negotiated to be lower, to reduce excessive inventory and make production more flexible.)
  • 4.2.5.4 - Monitor quality of product delivered (10302) - Track the performance of the suppliers on product quality. Use this information to further improve sourcing and supplier performance.