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KPI Development and Dashboards

Waiting for monthly financial reports is a confirmation of the historical activity. Thus, is it like driving down road using the rear view mirrors. Not a very forward looking measure of performance …or a very good method of driving a car.

There are software packages that can create literally 100s of Key Performance Indicators from one’s data sources for many areas of the Company- financial, customer, internal business processes and people ( learning/growth).

KPIs track performance just as it happens as often one can pull data from the system and summarize it. It could be hourly or daily or real time. The measurement can be any factors that matter to the organization and those that it considers a vital barometer/ driver to success- labor hours worked, packages shipped, sales orders received, sales closed/shipped, daily sales backlog, accounts.

A very common measure is: Shipments /sales daily

To plan
To Forecast
To prior period (to account for seasonality); differences, by the week, month ytd.

An example:

If one reviews daily and as the month / quarter progresses and realizes that the sales are missing targets, it offers an opportunity alert the Teams to address the core issues to drive performance before the end of the period.

The whole point of KPIs is to monitor the pulse of any business to ensure its’ success to the objectives set and when the actuals get off track from those objectives, help guide and direct a plan to still achieve them.

KPI s are but a part of a strategic based control plan to help guide and direct the Company’s strategy into operational objectives and performance measures to help guide to Company to achieve its’ stated objectives.