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hello and welcome to revision tips for sips level 5 advanced diploma in procurement and supply this is module 4 which is advanced contract and financial management and were going to look at learning outcome 1 which is to understand and apply the tools and techniques that can be used to measure and develop contract performance in procurement and supply so were going to cover things like kpis the methods of measuring and improving supply chain performance the approaches that are available for supply development and the innovative measures to improve the supply chain so you may be familiar with the management saying what gets measured gets done and if you cant measure it you cant manage it so measurement is the first step that leads to control and eventually to improve if you cant measure something you cant understand it and if you cant understand it you cant control it and i guess lastly if you cant control it then you cant improve it [Music] so there are many definitions to kp
