Each organization strives to meet their KPI sometimes on a yearly basis, others on a monthly or quarterly basis. And most manufacturing organizations already measure their KPI to one extend or another. Performance measurement software is becoming more popular as manufactures can take advantage of key performance indicators (KPIs) which are specifically designed for their processes and take into account both business metrics as well as production data. This software gives manufactures the ability to visualize and analyze these KPI.
Users have the ability to make optimal decisions right at their fingertips because business, operational and production performance KPIs are combined together and can provide near real-time, actionable metrics and KPI. Some software companies allow for email or text alerts to be sent to users when KPI reach or are close to any pre-defined alarm levels.
Some basic production performance KPIs include OEE (overall equipment effectiveness), scheduled production, quality tracking (more recently known as six sigma), on time orders and shipping, open orders, WIP, cycle time, inventory and forecasts to name a few.
One of the largest advantages of any KPI software includes the ability to give corporate entities to compare performance across multiple areas including products, plants and divisions. Additionally KPI makes it possible for team members to see where their money makers are located as well as the non profit items.
