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Measuring Supply Chain Performance
If you want the operation of your supply chain to be successful, it's not enough to simply select the correct strategy. Analysis of your supply chain's functions is essential to current and future success.
The first step in improving your supply chain is to measure its performance. You analyze the effectiveness of your supply chain's various functions through performance measurement.
Advantages of Performance Measurement
Performance measurement helps you to identify the strong and weak points of your company's operations and processes. You can reinforce success factors and correct potential mistakes. Performance measures should be easy to define and implement.
Measuring performance can help your company save money. By identifying what's working well and what needs to be improved, you can better decide what direction your company should take in the future.
You can also use performance measures to determine what improvements you need to make to your supply chain management strategy. This helps ensure that you have an efficient system in place for getting your products to your customers.
Pre-conditions of Effective Performance Measurement
Before measuring performance, you have to decide what needs to be measured. You must also clarify how performance measurement will help you reach your productivity goals.
When implementing performance measurement, you should look at all aspects of the supply chain. The supply chain incorporates all production processes, so to analyze the supply chain, you must analyze your entire production process.
Focus of Performance Measurement
Never use performance measurement to single out any individuals. Instead, encourage your employees to take part in finding solutions to any problems that could arise.
The focus of performance measurement should be on the performance of the supply chain. It shouldn't focus on the performance of certain individuals.
Exercise - Why Measure Performance?
Now, after all the theory, what do you think about some practice? Why should companies measure the performance of their supply chains?
1 - To identify areas of possible improvement.
2 - To save money. (...)
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