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2 OKR examples for Supplier Management Team

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What are Supplier Management 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 have curated a selection of OKR examples specifically for Supplier Management Team to assist you. Feel free to explore the templates below for inspiration in setting 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 Supplier Management 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.

Supplier Management Team OKRs examples

You will find in the next section many different Supplier Management Team Objectives and Key Results. We've included strategic initiatives in our templates to give you a better idea of the different between the key results (how we measure progress), and the initiatives (what we do to achieve the results).

Hope you'll find this helpful!

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 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

Supplier Management 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

The #1 role of OKRs is to help you and your team focus on what really matters. Business-as-usual activities will still be happening, but you do not need to track your entire roadmap in the OKRs.

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

Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to get the full value of your OKRs and make your strategy agile – otherwise this is nothing more than a reporting exercise.

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

OKRs without regular progress updates are just KPIs. You'll need to update progress on your OKRs every week to get the full benefits from the framework. 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 Supplier Management Team OKR templates

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

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