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13 Examples of SMART
Goals for Procurement
March 6, 2023 by Rei Shen

It’s no secret that procurement and supply chain

management are integral components of a successful
business.

But procurement is a complicated process that requires

specific goals to succeed. Luckily, the SMART framework will
ensure the company’s time and resources are used
efficiently.

In this post, we’ll cover various examples of SMART goals for

procurement. Understanding how to establish these goals
can provide you with the right tools for success.
 Table of Contents

What is a SMART Goal?

The SMART (Specific, Measurable, Attainable, Relevant, Time-
based) system will enable you to set practical goals for
procurement.

Need more clarification? Here is a deeper dive into each

SMART letter:

Specific
For businesses of every size, having specific goals for
procurement can streamline the process. Taking the time to
define your targets will make it easier to determine whether
an item meets your needs—and if it doesn’t, you’ll know that
further investigation is required.

Measurable
Quantifiable goals require careful thought and clear-cut
criteria; they should be part of your overall strategy for
success. As you define each goal, make sure it has an
associated benchmark. With this level of detail, you will have
visibility into the progress or performance results at any
given time.

Attainable
We all have aspirations, but setting realistic expectations will
allow you to reach those dreams. Rather than aiming for
unattainable heights, focus on smaller steps; that may
involve focusing on one goal at a time rather than juggling
several projects simultaneously.

Relevant
Your goals should center around your values to stay inspired
in difficult times. Once you better understand what drives
you, use it as a foundation for goal setting. You’ll be able to
create meaningful goals that propel you forward.

Time-Based
A stringent timeline is key to staying laser-focused on your
ambitions. In this way, you can steadily progress toward your
objectives. And remember, success doesn’t happen
overnight; it is developed after long hard work and
persistence.

13 Examples of SMART Goals for

Procurement
Below are 13 examples of SMART goals for successful
procurement:

1. Foster Accurate Forecasting

“I’ll implement a process of collecting and analyzing data to
ensure the company always has the right number and type of
products. I want to foster an accurate forecasting process with
the help of our procurement team within 5 months.”

Specific: This goal is explicit as it entails creating a process

for analyzing data to forecast accurately.

Measurable: It is possible to measure the accuracy of

forecasted products.

Attainable: This SMART goal is achievable with the help of a

procurement team.

Relevant: Accurate forecasting is essential for businesses to

ensure they have enough products.

Time-based: The statement should be accomplished within 5

months.

2. Reduce Material Waste

“In the following three months, I’ll reduce material waste in our
procurement process by 15%. I’ll monitor our waste levels and
make any necessary changes to ensure a reduction in material
waste occurs.”

Specific: The goal is clearly stated, outlining the objective

and deadline.

Measurable: Monitoring waste levels will enable the

company to track progress.

Attainable: This is possible by making necessary changes to

reduce waste.

Relevant: Reducing material waste will help the company

improve its procurement process.

Time-based: There is a three-month time frame for

decreasing waste.

3. Optimize Supplier Relationships

“I want to optimize the relationships between our organization
and suppliers to ensure it is mutually beneficial. I’ll set up
regular check-ins with each supplier and ensure all agreements
are clear within 6 months.”

Specific: This SMART goal outlines what needs to be done

(set up regular check-ins and ensure all agreements are
clear) and when it should be completed (within 6 months).

Measurable: You can count the number of check-ins and

agreements clarified.

Attainable: Strengthening supplier relationships is definitely

feasible.

Relevant: Ensuring a mutually beneficial supplier

relationship will help secure long-term investments.
Time-based: The goal is expected to be completed in half a
year.

4. Improve Quality Standards

“I will identify ways to create and enforce higher quality
standards for purchasing decisions from suppliers in 5 months. I
hope to use customer feedback, supplier evaluations, and other
data to measure the quality of products and services
purchased.”

Specific: You have identified steps to take—using customer

feedback, supplier evaluations, and data.

Measurable: You can determine the quality of products and

services purchased.

Attainable: Assuming you have the resources and data

available, this is a reasonable goal.

Relevant: Improving quality standards is directly related to

procurement.

Time-based: You should anticipate goal achievement after 5

months.

5. Reduce Costs for Materials

“I aim to reduce costs for materials sourced by 20% over the 8
months ahead. To accomplish this, I’ll establish relationships
with new suppliers, negotiate better deals with existing ones,
and find more efficient ways to buy materials.”

Specific: The procurement professional aims to reduce

materials costs by 20%.

Measurable: You could track the cost of materials sourced

over time.

Attainable: This is doable if appropriate steps are taken to

introduce new suppliers and negotiate better deals with
existing ones.

Relevant: This goal is relevant to procurement professionals

because it directly impacts their organization’s bottom line.

Time-based: The SMART statement has an 8-month timeline

to be met.

6. Streamline Processes
“I’ll review the current procurement processes and make any
necessary changes to streamline them within three months. I’ll
look for ways to eliminate wasted time, cost, and effort in order
to make the process more efficient.”

Specific: The goal outlines the objective, what will be done to

achieve it, and the timeline.

Measurable: You could measure how much time, cost, and

effort is saved by streamlining the process.

Attainable: This goal is possible since it’s realistic to review

and make any necessary process changes within three
months.

Relevant: This is pertinent to improving efficiency in the

procurement process.

Time-based: There is a three-month window for

accomplishing success.
7. Develop Sustainable Practices
“I aim to reduce the environmental impact of our procurement
processes for 12 months. I want to maximize recycling efforts,
decrease plastic consumption, and switch from traditional fuel
sources to renewable energy sources to better protect our
planet.”

Specific: The individual has a clear idea of what they want to

do and is looking at reducing the environmental impact of
procurement processes.

Measurable: Monitor the number of recyclable materials,

plastic consumption, and renewable energy sources.

Attainable: This certain goal is feasible with the right

resources and commitment.

Relevant: The person wants to positively and sustainably

impact our planet.

Time-based: The goal should be met in 12 months.

8. Leverage Technology
“I’ll strive to use technology to make procurement processes
more efficient after 7 months. That includes researching and
implementing software for seamless ordering, so our
procurement team can complete orders and invoices with
minimal effort.”

Specific: The goal is to use technology to make procurement

processes more efficient.

Measurable: Evaluate progress by researching and

implementing software to make ordering more efficient.

Attainable: You have identified a reasonable timeline to

research and implement the necessary technology.

Relevant: This is relevant to procurement, as it can facilitate

ordering processes.

Time-based: The statement should be completed after 7

months.

9. Enhance Risk Mitigation

“To reduce potential losses, I will review our risk management
protocols and identify areas for improvement in 8 months. I
want to ensure we mitigate potential risks associated with our
procurement process.”

Specific: The SMART goal is to improve the risk management

protocols.

Measurable: Ensure you review protocols and identify areas

for improvement in 8 months.

Attainable: This allows adequate time to review risk

management protocols and make necessary changes.

Relevant: This goal is appropriate to ensure potential risks

associated with procurement are minimized.

Time-based: There is an 8-month deadline to attain success.

10. Shorten Purchasing Cycle Time

“My aim is to reduce the time it takes to process a purchase
order from four to two days. I plan to implement automated
processes and streamline communication between purchasing,
planning, and production teams for 7 months.”

Specific: You want to minimize the time it takes to process a

purchase order.

Measurable: Check if you’re on track to reduce purchasing

time from four to two days.

Attainable: Automated processes and streamlined

communication can help reduce the purchase order process
time.

Relevant: This is relevant to the purchasing team because it

will improve efficiency.

Time-based: The goal has a timeline of 7 months for

completion.

11. Automate Approvals and

Reimbursements
“I’ll automate approvals and reimbursements for all purchases
within three months. I hope to use technology that allows for
faster and more efficient processing of payments, reducing the
amount of time spent on paperwork.”

Specific: The goal is explicit because it specifies automating

approvals and reimbursements.

Measurable: Measure the amount of time saved on

paperwork.

Attainable: Automating approvals and reimbursements is a

common practice today.

Relevant: The goal relates to improving the speed and

efficiency of payments.
Time-based: Goal completion is expected within three
months.

12. Ensure Inventory Accuracy

“Within 6 months, I’ll audit our inventory and systems to ensure
accurate data. I want to promote better visibility into each item’s
inventory levels and track our suppliers more closely.”

Specific: The desired outcome is well-defined, specifying

what needs to be done and when.

Measurable: We can audit the data to verify accuracy and

measure the improvements.

Attainable: This is doable by working with inventory teams

to develop better tracking systems and processes.

Relevant: This relates to procurement because it ensures

the organization has accurate data on its inventory.

Time-based: The goal is time-based, with a 6-month timeline

for completion.

13. Implement Strategic Sourcing Plan

“I want to develop and implement a strategic sourcing plan that
maximizes cost savings on procurement activities. For the next
four months, I want to take a proactive approach and ensure
that the organization gets the most value for its money.”

Specific: The goal clearly states that you want to develop and
implement a strategic sourcing plan.

Measurable: You can check how much money the

organization saves through the plan.

Attainable: It’s possible to develop and implement a

strategic sourcing plan.
Relevant: Strategic sourcing plans save money and add
value to the organization.

Time-based: Four months are needed to reach your ideal

target.

Final Thoughts
The procurement teams can use SMART goals to foster clarity
and efficiency in their operations. They can achieve their
desired outcomes by setting goals that meet the SMART
criteria.

Make sure you carefully consider your goals before

committing to the SMART framework and adjust accordingly
if needed.

As with any goal-setting strategy, try to chunk the process

into manageable pieces. It’ll be easier to celebrate each
success along the way.

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