During annual strategic planning meetings, the temptation is always to spend most of the time working on the business, discussing the big-picture strategic plans and breakthrough developments that are critical to the future of the company. But just looking at long-term plans ignores a critical part of the planning process: defining the annual goals and key performance indicators (KPIs) that will be relevant in the day-to-day running of the business for turning those high-level goals into reality.
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This exercise may seem too detailed to make it a big part of your annual strategy meeting, but it requires just as much focus and attention as your big-picture plans. Too often when business leaders present the annual goals, they simply send them down the line as blanket targets that they will use to evaluate the progress of every department. When they check back after the first quarter to see if everything is on track, it’s usually not and no one can explain why.
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Managing KPIs for the Rest of the Year
Setting and updating KPIs on an annual basis is an important part of any operations team's activities. But what happens with those KPIs in between? Many companies rely on manual data capture or Excel spreadsheets to track performance, resulting in lengthy delays in generating reports and difficulties in correlating KPI shortfalls to root causes.IntraStage customers can drill down into all aspects of manufacturing data, including FPY, retests, rework, lot, and RMA information, to connect manufacturing results to root causes in real time. Imagine if you could quickly see the cause of last week's 5% yield drop, or which supplier changed significant process parameters last week (before their parts reach your docks), all during your weekly operations meeting - or in your email in the morning.
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