KEY PERFORMANCE INDICATOR (KPIS)
IMPLEMENTATION
By monitoring and analyzing performance data and comparing them with benchmarks, many sustainable opportunities for improvement can be found; hence plans for cost optimization (Capex) can and should be developed and implemented to operate in this age of competitive profits.
Helping you achieve
your plant goals
Achieve cement production excellence:
- Satisfying the customer’s product and quality needs
- Optimizing the productive processes
- Reducing operation costs with responsible environmental and social management
- Optimize assets performance and availability (Overall Equipment Effectiveness, OEE)
- Minimize Total Maintenance Costs
- Zero accidents and reliable operations for employees, contractors, and neighboring communities.
Key Performance Indicators (KPI’s)
Comparing key performance indicators provides management the tools to review the progress of ongoing sustainable operations and implemented projects.
Key Performance Indicators for Strategy Implementation
Key performance indicators (KPIs) have become commonplace in large and medium-sized companies worldwide. Nevertheless, despite the widespread use of KPIs, many companies still have not managed to obtain a significant benefit from KPIs. Frequently, KPIs are just seen as a tool for measuring performance on an operational level. This approach misses the benefits KPIs can offer for strategic planning and strategy implementation.
THREE RECOMMENDATIONS FOR KPIs IMPLEMENTATION
- Closely align strategic KPIs with strategic objectives.
Keep strategic KPIs relevant to your strategy implementation and your regular strategy review by ensuring they are relevant and closely linked to a specific strategic objective.
- Integrate KPI’s in a strategic management framework.
You can increase the effectiveness of KPIs by integrating them into a strategic management framework. One of the most popular frameworks is the Balanced Scorecard.
- Apply stringent criteria for selecting your KPI’s.
KPIs are like torchlights used to shine into different corners of your business. Due to limited resources, you cannot shine into every corner. Thus, you should perform a stringent selection of KPIs based on criteria like relevance to your strategic objectives, the balance between forward-looking and backward-looking KPIs, and KPIs’ comprehensibility.