In today’s world, it is critical to measure the progress of any business. We’ve all heard the saying, “What gets measured gets done”. Regular measurement and reporting of metrics keep you focused and allows you to use the information gathered to improve the results of your business. They call the most critical measurements Key Performance Indicators (KPIs).
Successful companies find that SMART (Specific, Measurable, Actionable, Realistic, Time-Based) goals contain key concepts for efficiency and productivity. Any result must have a set of defined measurements, targets, and actions that can be taken in order to make positive movement on metrics.
This is equally true when evaluating your manufacturing business. But what should be measured and what are the key performance indicators that will guide you toward growth? You can measure anything your organization cares to understand better about your business. However, there are a few areas that should be the focus because of the positive impact that they have on all businesses in your industry. Each of these areas is a ‘metric’. The seven most critical metrics for when evaluating the growth and success of a manufacturing company are:
These metrics are critical to your business. Which, when measured correctly, will make a real difference in streamlining your process and improving productivity. Therefore, increasing profitability.
We are the industry’s first Metrics as a Service (MaaS™) provider, enabling companies to focus on their business while we ensure they have the performance data they need to be delivered to the right people at the right time!
InfoPlanIT MaaS™ solutions are a perfect fit for Manufacturing single or multi-site operations, Mergers and Acquisitions, Asset Management, Compliance, Restructuring, Turnaround, and anyone wanting to lead a metrics-driven organization. Our unique and proven Top-Down Approach enables us to deliver Metrics and KPI’s to your key stakeholders in days. With little or no direct system integration or need for internal IT resources. This enables you to define your metric strategy and even start with a proof of concept until you get acceptance from the key stakeholders within your organization. MaaS™ is ideal for long-term or interim projects and even situations where data is not directly accessible, and you need to consolidate it with existing operating data. InfoPlanIT can semi-automated or fully automate the entire process as your business requires it.
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