Cycle time in hours to place a purchase order
This measure calculates the average cycle time in hours from the receipt of a purchase requisition line item to the time the purchase order is transmitted to the vendor/contractor (including any delays from the approval process). It is part of a set of Cycle Time measures that help companies analyze the duration of the process "order materials and services" from beginning to end.
Benchmark Data
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Units for this measure are hours.
Cycle time in hours from the receipt of a purchase requisition line item to the purchase order's transmission to the vendor/contractor
Key Terms
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.
Median
The metric value which represents the 50th percentile of a peer group. This could also be communicated as the metric value where half of the peer group sample shows lower performance than the expressed metric value or half of the peer group sample shows higher performance than the expressed metric value.