Key Performance Indicators (KPIs)
Goals need to be defined and then the appropriate measurement can be used to meet the goal.
There are two types of measurements: leading and lagging indicators. Lagging indicators are those which record and measure impact due to historical events. Leading indicators are those which record and measure impact of current events which lead to understanding how other indicators will change.
If an organization looks at lagging indicators, it is like driving a car forward by looking in the rear view mirror. You can move forward but it will be at a slow pace, jerky and stressful.
Key Performance indicators (KPI) are used to drive behavioral change. Whatever is being measured becomes important and people will work to understand and meet expectations.
MET DEMAND can work with your teams by:
- Providing training on metrics
- Assisting teams in developing metrics which roll from the shop floor to strategic business objectives
- • Coaching teams on the Plan Do Check Act (PDCA) process to understanding cause and effect for managing a change with metrics and KPIs.