Get Tability: OKRs that don't suck | Learn more →

10 OKR examples for Procurement Team

Turn your spreadsheets into OKR dashboards with Tability

Tability is a cheatcode for goal-driven teams. Set perfect OKRs with AI, stay focused on the work that matters.

What are Procurement Team OKRs?

The Objective and Key Results (OKR) framework is a simple goal-setting methodology that was introduced at Intel by Andy Grove in the 70s. It became popular after John Doerr introduced it to Google in the 90s, and it's now used by teams of all sizes to set and track ambitious goals at scale.

Creating impactful OKRs can be a daunting task, especially for newcomers. Shifting your focus from projects to outcomes is key to successful planning.

We've tailored a list of OKRs examples for Procurement Team to help you. You can look at any of the templates below to get some inspiration for your own goals.

If you want to learn more about the framework, you can read our OKR guide online.

The best tools for writing perfect Procurement Team OKRs

Here are 2 tools that can help you draft your OKRs in no time.

Tability AI: to generate OKRs based on a prompt

Tability AI allows you to describe your goals in a prompt, and generate a fully editable OKR template in seconds.

Watch the video below to see it in action 👇

Tability Feedback: to improve existing OKRs

You can use Tability's AI feedback to improve your OKRs if you already have existing goals.

AI feedback for OKRs in Tability

Tability will scan your OKRs and offer different suggestions to improve them. This can range from a small rewrite of a statement to make it clearer to a complete rewrite of the entire OKR.

Procurement Team OKRs examples

We've added many examples of Procurement Team Objectives and Key Results, but we did not stop there. Understanding the difference between OKRs and projects is important, so we also added examples of strategic initiatives that relate to the OKRs.

Hope you'll find this helpful!

OKRs to enhance Procurement Process Efficiency

  • ObjectiveEnhance Procurement Process Efficiency
  • KRIncrease vendor satisfaction rate to 90%
  • TaskReview and optimize terms of agreements with vendors
  • TaskImprove communication to ensure vendors' needs are met
  • TaskImplement vendor feedback surveys to gather insight
  • KRReduce average procurement cycle time by 20%
  • TaskReview and eliminate unnecessary steps in procurement process
  • TaskImplement digital procurement systems to increase efficiency
  • TaskStreamline supplier selection process for faster decision-making
  • KRLower procurement-related errors by 15%
  • TaskImplement routine audits for potential procurement errors
  • TaskEstablish a standardized procurement process across the organization
  • TaskEquip staff with advanced procurement software training

OKRs to optimize and streamline procurement processes

  • ObjectiveOptimize and streamline procurement processes
  • KRAchieve 100% supplier compliance with procurement policies and standards
  • TaskDevelop comprehensive procurement policies and communicate them to all suppliers
  • TaskImplement regular trainings to ensure suppliers' understanding and compliance
  • TaskEstablish consistent monitoring systems to track suppliers' adherence to standards
  • KRReduce the total cost of procurement by 15% without compromising quality
  • TaskNegotiate better contracts with existing suppliers
  • TaskImplement cost-effective procurement software
  • TaskConsolidate supplier base to increase bargaining power
  • KRImplement a new procurement software to reduce processing time by 30%
  • TaskResearch and select a reputable procurement software
  • TaskMonitor and measure processing time improvements
  • TaskTrain staff on new procurement software usage

OKRs to improve procurement documentation through thorough auditing

  • ObjectiveImprove procurement documentation through thorough auditing
  • KRPropose and implement 3 efficiency-enhancing modifications to the document auditing system
  • TaskImplement the proposed system modifications
  • TaskDevelop efficiency-enhancing modifications for the system
  • TaskIdentify inefficiencies in the current document auditing system
  • KRConduct audits on 100% of free procurement documents weekly
  • TaskSchedule weekly audits for these documents
  • TaskIdentify all free procurement documents for the week
  • TaskReview and report on audit findings
  • KRDetect and report at least 90% of inaccuracies or discrepancies in audited documents
  • TaskReport detected inaccuracies promptly
  • TaskEstablish a detection method for document inaccuracies
  • TaskAnalyze 100% of audited documents systematically

OKRs to acquire cost-effective new media for Wallop

  • ObjectiveAcquire cost-effective new media for Wallop
  • KRNegotiate at least 30% reduction in costs with 3 existing media vendors
  • TaskConduct negotiation meetings with vendors
  • TaskDraft proposal for 30% cost reduction
  • TaskIdentify top three media vendors for negotiation
  • KRImprove internal media procurement processes to reduce acquisition costs by 20%
  • TaskTrain staff on cost-effective procurement strategies
  • TaskImplement centralized purchasing to streamline buying process
  • TaskNegotiate bulk rates with preferred media vendors
  • KRIdentify and establish partnerships with 5 new low-cost media providers
  • TaskResearch potential low-cost media providers in the market
  • TaskEvaluate options based on cost, services and reputation
  • TaskReach out and establish contracts with chosen providers

OKRs to master Microsoft 365 Copilot program for efficient procurement

  • ObjectiveMaster Microsoft 365 Copilot program for efficient procurement
  • KRApply learned procedures to reduce procurement processing time by 25%
  • TaskProvide staff training on efficient procurement procedures
  • TaskImplement automation software for quicker procurement processes
  • TaskMonitor and adjust workflow to eliminate unnecessary steps
  • KRComplete 4 Microsoft 365 Copilot training modules each week
  • TaskAllocate specific time slots to accomplish each selected training module
  • TaskReview and assess understanding after finishing each module
  • TaskIdentify 4 Microsoft 365 Copilot training modules to complete this week
  • KRAchieve 90% score in weekly assessments of the training program
  • TaskPractice with past assessments to understand the format and expected answers
  • TaskAllocate specific hours daily for focused study and revision
  • TaskAttend all training sessions and actively participate in discussions

OKRs to accelerate overall procurement processes

  • ObjectiveAccelerate overall procurement processes
  • KRSlash approvals waiting time by 25%
  • TaskProvide employee training to expedite approvals
  • TaskImplement an automated approval system for efficiency
  • TaskPrioritize urgent approvals daily
  • KRReduce current supplier response times by 20%
  • TaskRevisit current contracts and agreements for possible revisions
  • TaskProvide timely feedback to suppliers to encourage improvement
  • TaskImplement more efficient communication methods with suppliers
  • KRDecrease purchase order errors by 30%
  • TaskConduct regular training sessions on proper purchase order submission
  • TaskEstablish mandatory accuracy checking protocols before submission
  • TaskImplement advanced automated software for purchase order management

OKRs to enhance profit margins through optimized payables management

  • ObjectiveEnhance profit margins through optimized payables management
  • KRImprove supplier early payment discounts by 15%
  • TaskImplement systematic early payment process to assure discount application
  • TaskNegotiate improved discount rates with existing suppliers
  • TaskAnalyze current supplier contracts for early payment discount potential
  • KRReduce invoice processing costs by 20% through automation
  • TaskTrain staff on using new automation system
  • TaskMonitor and optimize automated invoice processes
  • TaskImplement automated invoice processing software
  • KRDecrease late payment penalties by 30% by streamlining payment processes
  • TaskImplement automatic payment reminders for upcoming dues
  • TaskSimplify payment portal for easier navigation
  • TaskIntegrate multiple payment options to facilitate payments

OKRs to achieve significant reduction in operations cost

  • ObjectiveAchieve significant reduction in operations cost
  • KRDecrease monthly overhead expenses by at least 10%
  • TaskIdentify and eliminate unnecessary services or subscriptions
  • TaskNegotiate lower costs with vendors or suppliers
  • TaskImplement energy-efficient practices in office operations
  • KRProcure 20% of materials from lower-cost suppliers without compromising quality
  • TaskTransition 20% of orders to selected suppliers
  • TaskConduct sample tests to ensure material quality
  • TaskIdentify potential lower-cost suppliers with high-quality materials
  • KRImplement automation in 3 operations processes to save labor cost
  • TaskIdentify 3 operations processes suitable for automation
  • TaskResearch and select suitable automation software
  • TaskTrain staff on new automation tools

OKRs to streamline and optimize purchasing process

  • ObjectiveStreamline and optimize purchasing process
  • KRAchieve a 10% cost reduction through strategic supplier partnerships
  • TaskMonitor and assess the cost-saving performance regularly
  • TaskIdentify suppliers for potential strategic partnerships
  • TaskNegotiate costs and build agreements with chosen suppliers
  • KRDigitize 100% of paper-based purchase orders for better traceability
  • TaskImplement a digital purchase order system
  • TaskTrain staff on new digital order process
  • TaskScan all existing paper-based purchase orders
  • KRReduce supplier lead time by 15% through improved negotiations
  • TaskImplement new strategies with suppliers during renewal talks
  • TaskIdentify key suppliers and analyze their current lead times
  • TaskDevelop new negotiation strategies focusing on lead time reduction

OKRs to negotiate better pricing with vendors early in the project

  • ObjectiveNegotiate better pricing with vendors early in the project
  • KRFinalize early-project contracts with all vendors securing reduced rates by week 8
  • TaskNegotiate contracts and reduced rates with each vendor
  • TaskFinalize and secure all vendor contracts by week 8
  • TaskIdentify all vendors necessary for early-project completion
  • KRBuild relationships with 5 key vendors by the end of the week 3
  • TaskIdentify and shortlist 5 key vendors relevant to our business needs
  • TaskInitiate contact and arrange meetings with the selected vendors
  • TaskFollow up post meetings to solidify relationships and discuss potential collaborations
  • KRAchieve at least a 10% reduction in pricing from each vendor by week 6
  • TaskAnalyze current expenditure with each vendor
  • TaskObtain written commitment to new prices
  • TaskInitiate negotiation talks for discount rates

Procurement Team OKR best practices

Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.

Here are a couple of best practices extracted from our OKR implementation guide 👇

Tip #1: Limit the number of key results

Having too many OKRs is the #1 mistake that teams make when adopting the framework. The problem with tracking too many competing goals is that it will be hard for your team to know what really matters.

We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.

Tip #2: Commit to weekly OKR check-ins

Setting good goals can be challenging, but without regular check-ins, your team will struggle to make progress. We recommend that you track your OKRs weekly to get the full benefits from the framework.

Being able to see trends for your key results will also keep yourself honest.

Tip #3: No more than 2 yellow statuses in a row

Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples above). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.

As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.

Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.

Save hours with automated OKR dashboards

AI feedback for OKRs in Tability

The rules of OKRs are simple. Quarterly OKRs should be tracked weekly, and yearly OKRs should be tracked monthly. Reviewing progress periodically has several advantages:

Spreadsheets are enough to get started. Then, once you need to scale you can use Tability to save time with automated OKR dashboards, data connectors, and actionable insights.

How to get Tability dashboards:

That's it! Tability will instantly get access to 10+ dashboards to monitor progress, visualise trends, and identify risks early.

More Procurement Team OKR templates

We have more templates to help you draft your team goals and OKRs.

Table of contents