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The Importance of Metrics and KPIs for Manufacturers
Summary
Unfortunately, savvy competitors, a disorganized supply chain, an unfriendly economy, and other manufacturing issues such as talent shortages and global unrest pose seemingly insurmountable obstacles. The good news is that manufacturers tracking key performance indicators (KPIs) are likelier to reach their goals. Although Toyota hasn’t specifically stated it, we can assume it has set clear, concise business goals and metrics to assess its progress. Developing KPIs within the SMARTER framework and obtaining KPI data are essential to becoming a lean, profitable business. In order to translate the KPI data into strategic, actionable decisions, sophisticated technology is needed, such as the Acumatica cloud ERP solution.
Classifications
Core Activities
ERP
ERP & Process Management
Accounting and Taxes
Manufacturing
Inventory Planning
Vertical-Industries
HVAC Software
Construction
Horizontal-Applications
Transportation, Logistics & Inventory
Transportation
Web and Content Management
AI & Machine learning
Human Resources
Applicant Tracking
Recruiting
Accounts Receivable