Key Performance Indicators essential tools

13 במרץ 2024 | מאת: | מאמרים בקטגוריה פרסום באינטרנט

Key Performance Indicators (KPIs) are essential tools for measuring and evaluating performance across various industries and sectors. These metrics provide quantifiable data that organizations can use to assess their progress towards strategic goals and objectives (Chang et al., 2015). KPIs are crucial in the construction industry for measuring success and evaluating project performance (Chan & Chan, 2004). However, quality assessment in construction projects can be subjective, emphasizing the need for objective KPIs to ensure accurate performance measurement (Chan & Chan, 2004). In healthcare settings such as hospitals, KPIs are utilized to assess the effectiveness of services and enhance patient care (Lloyd et al., 2016). Pharmacists in hospitals rely on KPIs to improve pharmacy practice and ensure quality service delivery (Lloyd et al., 2016). Furthermore, KPIs play a significant role in monitoring and optimizing operational performance in various sectors, including manufacturing and logistics (Ferrer et al., 2018; Moktadir et al., 2020). For example, in the manufacturing industry, KPIs related to capacity utilization and operational excellence are critical for enhancing overall performance (Moktadir et al., 2020). In logistics, a comprehensive set of KPIs derived from the Balanced Scorecard framework can offer valuable insights into performance from different perspectives (Kucukaltan et al., 2016). The integration of KPIs with strategic objectives is crucial for enhancing competitiveness and driving organizational success. By aligning KPIs with strategic goals, organizations can track progress, identify areas of strength and weakness, and implement strategies for continuous improvement. Additionally, the use of KPIs in supply chain management can help businesses optimize operations and enhance overall performance (Chae, 2009). In conclusion, KPIs serve as vital tools for performance measurement, strategic decision-making, and continuous improvement across various industries. By leveraging KPIs effectively, organizations can enhance their operational efficiency, drive innovation, and achieve sustainable growth in today's dynamic business environment. References: Bendoly, E., Rosenzweig, E., & Stratman, J. (2007). Performance metric portfolios: a framework and empirical analysis. Production and Operations Management, 16(2), 257-276. https://doi.org/10.1111/j.1937-5956.2007.tb00179.x Chae, B. (2009). Developing key performance indicators for supply chain: an industry perspective. Supply Chain Management an International Journal, 14(6), 422-428. https://doi.org/10.1108/13598540910995192 Chan, A. and Chan, A. (2004). Key performance indicators for measuring construction success. Benchmarking an International Journal, 11(2), 203-221. https://doi.org/10.1108/14635770410532624 Chang, B., Kuo, C., Wu, C., & Tzeng, G. (2015). Using fuzzy analytic network process to assess the risks in enterprise resource planning system implementation. Applied Soft Computing, 28, 196-207. https://doi.org/10.1016/j.asoc.2014.11.025 Dahal, R., Ghimire, B., & Rai, B. (2022). A balanced scorecard approach for evaluating organizational performance of nepal telecom. Management Dynamics, 25(1), 63-73. https://doi.org/10.3126/md.v25i1.53288 Ferrer, B., Muhammad, U., Mohammed, W., & Lastra, J. (2018). Implementing and visualizing iso 22400 key performance indicators for monitoring discrete manufacturing systems. Machines, 6(3), 39. https://doi.org/10.3390/machines6030039 Kucukaltan, B., Irani, Z., & Aktas, E. (2016). A decision support model for identification and prioritization of key performance indicators in the logistics industry. Computers in Human Behavior, 65, 346-358. https://doi.org/10.1016/j.chb.2016.08.045 Lloyd, G., Singh, S., Barclay, P., Goh, S., & Bajorek, B. (2016). Hospital pharmacists’ perspectives on the role of key performance indicators in australian pharmacy practice. Journal of Pharmacy Practice and Research, 47(2), 87-95. https://doi.org/10.1002/jppr.1156 Moktadir, M., Dwivedi, A., Rahman, A., Jabbour, C., Paul, S., Sultana, R., … & Madaan, J. (2020). An investigation of key performance indicators for operational excellence towards sustainability in the leather products industry. Business Strategy and the Environment, 29(8), 3331-3351. https://doi.org/10.1002/bse.2575 Rahman, M. and Rahman, A. (2020). Strategic fit strategy formulation: keys to enhancing competitiveness and improving capabilities of a manufacturing unit. Production & Manufacturing Research, 8(1), 59-79. https://doi.org/10.1080/21693277.2020.1742234 Rust, R., Lemon, K., & Zeithaml, V. (2004). Return on marketing: using customer equity to focus marketing strategy. Journal of Marketing, 68(1), 109-127. https://doi.org/10.1509/jmkg.68.1.109.24030 Sudha, A. and Peterkumar, F. (2021). Effective workforce management using hr analytics. International Research Journal on Advanced Science Hub, 3(Special Issue 6S), 82-86. https://doi.org/10.47392/irjash.2021.171

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