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Performance Metric
A performance indicator or key performance indicator (KPI) is a type of performance measurement. KPIs evaluate the success of an organization or of a particular activity (such as projects, programs, products and other initiatives) in which it engages. KPIs provide a focus for strategic and operational improvement, create an analytical basis for decision making and help focus attention on what matters most. Often success is simply the repeated, periodic achievement of some levels of operational goal (e.g. zero defects, 10/10 customer satisfaction), and sometimes success is defined in terms of making progress toward strategic goals. Accordingly, choosing the right KPIs relies upon a good understanding of what is important to the organization. What is deemed important often depends on the department measuring the performance – e.g. the KPIs useful to finance will differ from the KPIs assigned to sales. Since there is a need to understand well what is important, various technique ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
KPI Boards Scanfil Sieradz based on recursively inaccessible ordinal ...
KPI may refer to: Companies and organizations * Indonesian Broadcasting Commission (''Komisi Penyiaran Indonesia'') ** Indonesian Broadcasting Commission Awards (''Anugerah KPI'') * Kralyevich Productions, an American video production company * Kuwait Petroleum International Institutes * Kansas Policy Institute, a think tank in Wichita, U.S. * Kharkiv Polytechnic Institute ( KhPI), Ukraine * Khulna Polytechnic Institute, Bangladesh * Kyiv Polytechnic Institute ( KPI), Ukraine * Kryvyi Rih Pedagogical Institute, Ukraine Other uses * Kapit Airport, IATA airport code "KPI" * Key performance indicator * Kingpin inclination * KPi, an extension of Kripke–Platek set theory The Kripke–Platek set theory (KP), pronounced , is an axiomatic set theory developed by Saul Kripke and Richard Platek. The theory can be thought of as roughly the predicative part of Zermelo–Fraenkel set theory (ZFC) and is considerably weak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Professional Services Automation
Professional services automation (PSA) is software designed to assist professionals, such as lawyers, auditors, and IT consultants, with project management and resource management for client projects and utilization rate management for billable staff. Typical PSA functions include project management and documentation, time recording, billing, reporting, and resource utilization. These features are often integrated with accounting, Customer Relationship Management (CRM) systems, and payroll systems in order to improve efficiency of overall operations. As a result, in addition to better managing client projects, independent contractors can prevent lost revenue and slow billing cycles. Ultimately PSA software suites allow users to integrate industry-appropriate metrics in order to better understand operations and, in turn, improve efficiency and profitability. As businesses grow, the size and complexity of their projects tend to increase as well. PSA software is used to provide visi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reverse Logistics
Reverse logistics encompasses all operations related to the upstream movement of products and materials. It is "''the process of moving goods from their typical final destination for the purpose of capturing value, or proper disposal. Remanufacturing and refurbishing activities also may be included in the definition of reverse logistics''". Environmental concerns and the development of green supply chain management practices have increased the relevance of reverse logistics. Academic and professional interest in reverse logistics has grown considerably in recent decades. The first use of the term "reverse logistics" in a publication was by James R. Stock in a white paper titled ''Reverse Logistics'', published by the Council of Logistics Management in 1992. The concept was further refined in subsequent publications by Stock (1998) in another Council of Logistics Management book, titled ''Development and Implementation of Reverse Logistics Programs'', and by Rogers and Tibben-Le ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply Chain Management
In commerce, supply chain management (SCM) deals with a system of procurement (purchasing raw materials/components), operations management, logistics and marketing channels, through which raw materials can be developed into finished products and delivered to their end customers. A more narrow definition of supply chain management is the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronising supply with demand and measuring performance globally". This can include the movement and storage of raw materials, work-in-process inventory, finished goods, and end to end order fulfilment from the point of origin to the point of consumption. Interconnected, interrelated or interlinked networks, channels and node businesses combine in the provision of products and services required by end customers in a supply chain. SCM is the br ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competitive Advantage
In business, a competitive advantage is an attribute that allows an organization to outperform its competitors. A competitive advantage may include access to natural resources, such as high-grade ores or a low-cost power source, highly skilled labor, geographic location, high entry barriers, and access to new technology and to proprietary information. Overview The term ''competitive advantage'' refers to the ability gained through attributes and resources to perform at a higher level than others in the same industry or market (Christensen and Fahey 1984, Kay 1994, Porter 1980 cited by Chacarbaghi and Lynch 1999, p. 45). The study of this advantage has attracted profound research interest due to contemporary issues regarding superior performance levels of firms in today's competitive market. "A firm is said to have a competitive advantage when it is implementing a value creating strategy not simultaneously being implemented by any current or potential player" (Barney 1991 cited ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Low-cost Country Sourcing
Low-cost country sourcing (LCCS) is procurement strategy in which a company sources materials from countries with lower labour and production costs in order to cut operating expenses. LCCS falls under a broad category of procurement efforts called global sourcing. The process of low-cost sourcing consists of two parties. The customer and the supplier countries like US, UK, Canada, Japan, Australia, and West European nations are considered as high-cost countries (HCC) whereas resource rich and regulated wage labor locations like China, India, Indonesia, Bolivia, Brazil, Russia, Mexico, and East European nations are considered low-cost countries (LCC). In low-cost-country sourcing the material ( products) flows from LCC to HCC while the technology flows from HCC to LCC. The primary principle behind LCCS is to obtain sourcing efficiencies through identifying and exploiting opportunities of price reduction between geographies. Aside from price other reasons for engaging in globa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost Accounting
Cost accounting is defined by the Institute of Management Accountants as "a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail. It includes methods for recognizing, allocating, aggregating and reporting such costs and comparing them with standard costs". Often considered a subset or quantitative tool of Management accounting, managerial accounting, its end goal is to advise the management on how to optimize business practices and processes based on cost efficiency and capability. Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future. Cost accounting information is also commonly used in financial accounting, but its primary function is for use by managers to facilitate their decision-making. Origins of cost accounting All types of businesses, whether manufacturing, trading or producing services, r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minority Business Enterprise
Minority business enterprise (MBE) is an American designation for businesses which are at least 51% owned, operated and controlled on a daily basis by one or more (in combination) American citizens of the following ethnic minority and/or gender (e.g. woman-owned) and/or military veteran classifications: # African American # Asian American or Pacific Islander (includes West Asian Americans (Iran, etc.) and East Asian Americans (Japan, Korea, etc.)) # Hispanic American - A U.S. citizen of true-born Hispanic heritage, from any of the Spanish-speaking areas of the following regions: Mexico, Central America, South America and the Caribbean Basin only. Brazilians (Afro-Brazilian, indigenous/Indian only) shall be listed under Hispanic designation for review and certification purposes. # Native American, including Aleuts According to the Minority Business Development Agency, minorities own more than 8 million firms, and account for nearly $1.4 trillion in revenues. MBEs can self-ident ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply Chain
A supply chain is a complex logistics system that consists of facilities that convert raw materials into finished products and distribute them to end consumers or end customers, while supply chain management deals with the flow of goods in distribution channels within the supply chain in the most efficient manner. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains. Suppliers in a supply chain are often ranked by "tier", with first-tier suppliers supplying directly to the client, second-tier suppliers supplying to the first tier, and so on. The phrase "supply chain" may have been first published in a 1905 article in ''The Independent (New York City), The Independent'' which briefly mentions the difficulty of "keeping a supply chain with India unbroken" during the British expedition to Tibet. Overview A typical supply chain can be divided into two stages namely, produ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Earned Value Management
Earned value management (EVM), earned value project management, or earned value performance management (EVPM) is a project management technique for measuring project performance and progress in an objective manner. Overview Earned value management is a project management technique for measuring project performance and progress. It has the ability to combine measurements of the project management triangle: Scope (project management), scope, time, and costs. In a single System integration, integrated system, EVM is able to provide accurate forecasts of project performance problems, which is an important aspect of project management. Early EVM research showed that the areas of planning and control are significantly impacted by its use; and similarly, using the methodology improves both scope definition as well as the analysis of overall project performance. More recent research studies have shown that the principles of EVM are positive predictors of project success. The populari ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mean Time To Repair
Mean time to repair (MTTR) is a basic measure of the maintainability of repairable items. It represents the average time required to repair a failed component or device. Expressed mathematically, it is the total corrective maintenance time for failures divided by the total number of corrective maintenance actions for failures during a given period of time. It generally does not include lead time for parts not readily available or other Administrative or Logistic Downtime (ALDT). In fault-tolerant design, MTTR is usually considered to also include the time the fault is latent (the time from when the failure occurs until it is detected). If a latent fault goes undetected until an independent failure occurs, the system may not be able to recover. MTTR is often part of a maintenance contract, where a system whose MTTR is 24 hours is generally more valuable than for one of 7 days if mean time between failures is equal, because its Operational Availability is higher. However, in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
