Add a formula indicator to track vendor score

  • Release version: Washingtondc
  • Updated February 22, 2024
  • 1 minute to read

    • Create a custom formula indicator to add to your calculation for the vendor score. Add the indicator to your KPI group to analyze the score.

    Before you begin

    Role required: pa_contributor, pa_data_collector, pa_power_user, or pa_admin

    Procedure

    1. Navigate to All > Performance Analytics > Indicators > Formula Indicators.
    2. Select New.
    3. Fill in the fields on the form.
      1. In the Name field, enter a descriptive name for the formula indicator.
      2. Fill in the Indicator properties section.
        Name Description
        Direction
        • Select Maximize if an increase in score is desired.
        • Select Minimize if a decrease in score is desired.
        Unit Select the percentage (%) value.
        Precision Rounding of the fractional results.
      3. In the Formula section, select Browse for an indicator.

        The Add an indicator to a formula appears.

      4. In the Indicator field, select the indicator you want to add to the formula.
      5. Click Select.
      6. Add any mathematical operators such as +, -, *, or %.
      7. If you need to add more indicators, select the Browse for an indicator link and add more indicators to the formula based on the score you want to calculate.
    4. Select and hold (or right-click) the form header and select Save.
    5. Add a vendor breakdown for the indicator.
      1. In the Breakdowns related list, select Edit.
      2. Select Vendors from the Collection list and add it to the Breakdowns list.
      3. Select Save.
    6. Add the indicator to the vendor KPI group.
      1. Navigate to All > Vendor Management > Configuration > KPI Groups.
      2. Select the KPI group to which you want to add the formula indicator.
      3. In the KPIs related list, select New.

        The KPIs form appears.

      4. In the KPI field, select the formula indicator you've created.
      5. In the Order field, set the order number.
      6. Select Submit.
        Note:
        In the KPI Group form, make sure the combined weight of all KPIs in the KPIs related list adds to 100. If the combined weight is over 100, then the weight will be proportionately readjusted to 100.

    Result

    The formula indicator is added to the KPI group and is used for calculating the vendor score in Vendor Management Workspace.

    For detailed information on creating a formula indicator, see Create a formula indicator.