The Importance of Metrics and KPIs for Manufacturers
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.
ERP & Process Management
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