What are the different types of performance metrics?
What are the different types of performance metrics?
There are four types of performance measures:
- Workload or output measures. These measures indicate the amount of work performed or number of services received.
- Efficiency measures.
- Effectiveness or outcome measures.
- Productivity measures.
What is performance metrics in performance management?
Performance metrics are defined as figures and data representative of an organization’s actions, abilities, and overall quality. Performance metrics can vary considerably when viewed through different industries. Performance metrics are integral to an organization’s success.
What key performance indicators should be used to evaluate supply chain performance?
Generally, the supply chain indicators that make sense for most companies are forecast accuracy, order cycle time, delivery performance against date, logistics and transportation costs, inventory turnover, supply variance, demand variance, and planned performance.
What are the 5 key performance indicators in logistics?
The most essential logistics key performance indicators
- 1) Order accuracy. Monitors the degree of incidents from the placement of the order to the delivery of a shipment.
- 2) On Time In Full.
- 3) Lead time.
- 4) Stock rotation.
- 5) Warehousing Costs.
- 6) Truck Turning.
- 7) Capacity utilization.
- 8) Productivity.
How does economic theory treat multiple performance metrics in SCM?
Then it summarizes how economic theory treats multiple performance metrics. Actually, the paper proposes to deal with multiple metrics in SCM via the balanced scorecard — which measures customers, internal processes, innovations, and finance.
How to deal with multiple metrics in supply chain management?
Actually, the paper proposes to deal with multiple metrics in SCM via the balanced scorecard — which measures customers, internal processes, innovations, and finance. To forecast how the values of these metrics will change — once a supply chain is redesigned — simulation may be used.
What are the different types of simulation in supply chain management?
To forecast how the values of these metrics will change — once a supply chain is redesigned — simulation may be used. This paper distinguishes four simulation types for SCM: (i) spreadsheet simulation, (ii) system dynamics, (iii) discrete-event simulation, and (iv) business games.
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