OKR template to develop a robust vendor management framework

public-lib · Published about 1 month ago

This OKR is aimed at developing a robust vendor management framework. The key objective is to train 75% of the procurement team on managing this new framework. This will be achieved through a series of initiatives like scheduling training sessions, identifying the team members who require these sessions, and evaluating their effectiveness once completed.

The second part of this OKR is identifying and categorizing all existing vendors by the end of the quarter. This will be achieved through the development of categorization criteria based on different vendor parameters. A comprehensive list of existing vendors will be compiled and each will be sorted into the appropriate categories.

The last part of the OKR seeks to implement a vendor evaluation criteria for 60% of the categorized vendors. The criteria will be developed based on industry standards. Once the criteria have been applied, an analysis of the results will be performed to identify top categories for 60% of the vendors.

Each of these targets will be measured by specific percentage points that represent progress, from 0.0 to 100.0. The score format, _number_%, indicates that the outcomes will be evaluated numerically, providing a clear measure of the success of each objective.
  • ObjectiveDevelop a robust vendor management framework
  • Key ResultTrain 75% of procurement team in using the new vendor management system
  • TaskSchedule vendor management system training sessions
  • TaskIdentify which team members require training
  • TaskEvaluate training effectiveness post-completion
  • Key ResultIdentify and categorize 100% of existing vendors by end of quarter
  • TaskDevelop categorization criteria based on vendor parameters
  • TaskCompile a comprehensive list of all existing vendors
  • TaskSort each vendor into the corresponding categories
  • Key ResultImplement vendor evaluation criteria for 60% of categorized vendors
  • TaskDevelop evaluation criteria based on industry standards
  • TaskApply evaluation criteria and analyze results
  • TaskIdentify top categories for 60% of our vendors
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