What are the major KPIs in procurement? Also what are the major KPIs is Purchasing/Souricng?

The important KPIs in procurement and Purchasing are:-

1. Reduction in leat time

2. Delivery of quality products with out rejections

3. Discounts eceived on purchase

4. Import substitutions

5. Reduction in lead time in internal process / approvals

1)  Benchmarking of prices, good negotiation to strike the deal.

2) Sourcing the right product from the right source  and deliver it at the right time.

3) Expansion of approved reliable vendors.

Depends who you talk to. For me the ability to keep supply chain moving and consistently delivering innovating, product enhancing materials while delivering materials that drive efficiencies and reduce labor costs are important.