MNGT 625 Management
Create a 6-8 page paper discussing “Managing by Metrics”. This paper shall consider what metrics (or KPIs) a well-rounded performance dashboard would look like at your organization or an organization with which you are familiar. Although managing by metrics is not reviewed within our textbook, this is an essential part of operations and supply chain management. Independent research on this subject will provide additional insight into this topic. Our textbook defines KPIs or Key Performance Indicators as “Quantifiable measurements that reflect a company’s critical success factors”. The terms “KPI and Metrics” are similar in definition and can be utilized as the same within this assignment. Within this paper you will define the metrics from key functional impact areas such as Operations, Finance, Customer Satisfaction, and People along with other areas that may impact the operation. Ideally one KPI from each of these functional areas would compose a performance dashboard of 4 to 6 metrics that easily reports the status of each area. After selecting your KPIs or metrics for your organizational performance dashboard, discuss how you would effectively manage the performance of the organization utilizing a PDCA (Plan, Do, Check, Act) methodology. Finally, include an example of what the metric package (or dashboard) might look like. This may include charts, graphs or a visual dashboard.