OKR template to improve efficiency in raw material procurement for Bikanerwala FMCG
Your OKR template
The second specific objective is targeted towards negotiating contracts with suppliers for a 10% reduction in raw material costs. This could be achieved by studying past purchase invoices to ascertain current supplier charges, setting up meetings with suppliers to negotiate new contract terms and preparing a proposal outlining the desired 10% cost reduction.
The third objective focuses on implementing a digitized inventory system for reducing wastage by 15%. Training employees on the new digital inventory system, monitoring inventory and adjusting system for maximum efficiency and researching and selecting an appropriate digital inventory system form its primary initiatives.
The execution of this OKR would hopefully lead to a more cost-effective and efficient raw material procurement process for Bikanerwala FMCG, reducing waste and improving supplier reliability.
ObjectiveImprove efficiency in raw material procurement for Bikanerwala FMCG
KREnhance supplier reliability to achieve 95% on-time raw material delivery
Regularly evaluate and provide feedback to suppliers- Implement technology for accurate order and delivery tracking
- Review and strengthen raw material supplier contracts and agreements
- KRNegotiate contracts with suppliers for a 10% reduction in raw material costs
- Research past purchase invoices to determine current supplier charges
- Set up meeting with suppliers to discuss new contract terms
- Prepare proposal outlining desired 10% cost reduction
- KRImplement a digitized inventory system to reduce wastage by 15%
- Train employees on the new digital inventory system
- Monitor inventory and adjust system for maximum efficiency
- Research and select an appropriate digital inventory system
How to edit and track OKRs with Tability
You'll probably want to edit the examples in this post, and Tability is the perfect tool for it.
Tability is an AI-powered platform that helps teams set better goals, monitor execution, and get help to achieve their objectives faster.
With Tability you can:
- Use AI to draft a complete set of OKRs in seconds
- Connect your OKRs and team goals to your project
- Automate reporting with integrations and built-in dashboard
Instead of having to copy the content of the OKR examples in a doc or spreadsheet, you can use Tability’s magic importer to start using any of the examples in this page.
The import process can be done in seconds, allowing you to edit OKRs directly in a platform that knows how to manage and track goals.
Step 1. Sign up for a free Tability account
Go tohttps://tability.app/signup and create your account (it's free!)
Step 2. Create a plan
Follow the steps after your onboarding to create your first plan, you should get to a page that looks like the picture below.
Step 3. Use the magic importer
Click on Use magic import to open up the Magic Import modal.
Now, go back to the OKR examples, and click on Copy on the example that you’d like to use.
Paste the content in the text import section. Don’t worry about the formatting, Tability’s AI will be able to parse it!
Now, just click on Import from text and let the magic happen.
Once your example is in the plan editor, you will be able to:
- Edit the objectives, key results, and tasks
- Click on the target 0 → 100% to set better target
- Use the tips and the AI to refine your goals
Step 4. Publish your plan
Once you’re done editing, you can publish your plan to switch to the goal-tracking mode.
From there you will have access to all the features that will help you and your team save hours with OKR reporting.
- 10+ built-in dashboards to visualise progress on your goals
- Weekly reminders, data connectors, and smart notifications
- 9 views to map OKRs to strategic projects
- Strategy map to align teams at scale