What are Manufacturing KPIs?
Measuring performance is essential for any business desiring growth in today’s incredibly competitive marketplace and unpredictable economy. Key performance indicators (KPIs) are metrics for measuring and monitoring all production processes and workflows over a specified period of time.
To help your manufacturing company improve efficiency and reduce costs, you can establish specific, well-defined Key Performance Indicators (KPIs), which, simply put, are metrics for measuring and monitoring all production processes and workflows over a specified period of time. The data supplied by these metrics provides insights on how to optimize performance and to meet organizational goals.
As a manufacturer operating in a highly competitive marketplace and a volatile economy, you know that regularly measuring the performance of your manufacturing processes and workflows is essential for operating at peak level. Measuring performance accurately requires setting and analyzing manufacturing-specific key performance indicators (KPIs) and quantifiable manufacturing metrics.
Actively using manufacturing KPIs can lead to performance improvements, including better decision making, increased profitability, and enhanced customer service. Data gleaned from the manufacturing KPIs provides insights into how to best optimize production processes, meet organizational goals, and enhance customer service.