Sourcing Manager OKR

Objectives and Key Results (OKRs)

Role Overview:

The Sourcing Manager OKR plays a critical role in the Procurement and Supply Chain industry by ensuring cost-effective sourcing, supplier relationship management, and compliance across the supply chain.
This position is responsible for strategic sourcing initiatives, reducing procurement risks, and aligning with the organization’s goal of optimizing supply chain efficiency and cost control.

Objective 1: Optimize Sourcing Costs Without Compromising Quality

Key Results:

• Reduce overall procurement costs by 12% within the next 2 quarters.
• Negotiate improved pricing with at least 5 key suppliers by end of Q2.
• Achieve cost savings of ₹25 lakhs through strategic sourcing initiatives.
• Maintain or improve supplier quality ratings at 95% or above.
• Conduct 3 market benchmark studies to support negotiation strategy.

Objective 2: Strengthen Supplier Relationships and Performance

Key Results:

• Implement a quarterly supplier performance scorecard for 100% of tier-1 vendors.
• Hold bi-monthly meetings with top 10 suppliers to address improvement areas.
• Increase supplier satisfaction survey participation to 90%.
• Achieve 95% on-time delivery compliance from top 5 vendors.
• Identify and onboard 2 new high-potential suppliers per quarter.

Objective 3: Improve Sourcing Compliance and Risk Management

Key Results:

• Ensure 100% contract compliance for all new sourcing agreements.
• Implement risk assessment framework for all suppliers by end of Q3.
• Train sourcing team on compliance best practices—at least 90% participation.
• Audit 100% of existing supplier contracts for renewal or renegotiation.
• Reduce procurement-related incidents or escalations by 30% YoY.

Objective 4: Drive Digital Transformation in the Sourcing Process

Key Results:

• Automate 80% of routine sourcing workflows by end of the fiscal year.
• Implement e-procurement tools with full adoption by 90% of sourcing team.
• Reduce sourcing cycle time by 20% using automation tools.
• Digitize and centralize all supplier data into a single platform.
• Track and report real-time sourcing KPIs through dashboards.

Objective 5: Support Organizational Strategic Goals Through Sourcing

Key Results:

• Align sourcing strategy with 100% of quarterly business goals.
• Support 3 key product launches with timely supplier onboarding.
• Reduce lead times by 15% to meet market demand faster.
• Contribute to sustainability by sourcing 25% of materials from eco-friendly suppliers.
• Present quarterly sourcing strategy updates to the leadership team with action plans.

Conclusion:

The role of Sourcing Manager and Purchase Officer OKR is pivotal in the Procurement and Supply Chain sector, ensuring strategic supplier management, cost efficiency, and operational excellence.
By achieving the outlined OKRs, professionals in this role contribute significantly to business profitability, agility, and competitive advantage.

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