A Method for Key Performance Indicator Assessment in Manufacturing Organizations
Key Performance Indicators (KPIs) are an essential element of an organization’s ability to monitor its strategic health, helping to ensure the strategic goals of the organization are achieved. However, KPI assessment and improvement is often an ad hoc and consultant-driven process rather than one...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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Operations research society of Taiwan
2017-09-01
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| Series: | International Journal of Operations Research |
| Subjects: | |
| Online Access: | http://www.orstw.org.tw/ijor/vol14no4/IJOR2017_vol14_no4_p157_p167.pdf |
| _version_ | 1818944459801362432 |
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| author | Patrick Hester Barry Ezell Andrew Collins John Horst Kaleen Lawsure |
| author_facet | Patrick Hester Barry Ezell Andrew Collins John Horst Kaleen Lawsure |
| author_sort | Patrick Hester |
| collection | DOAJ |
| description | Key Performance Indicators (KPIs) are an essential element of an organization’s ability to monitor its
strategic health, helping to ensure the strategic goals of the organization are achieved. However, KPI assessment and
improvement is often an ad hoc and consultant-driven process rather than one undertaken using scientific principles.
This paper outlines the development and subsequent deployment of a method for KPI assessment founded in
scholarly literature and balancing practitioner concerns for ease of use. The proposed method draws heavily on
organizational stakeholder involvement at varying levels throughout the KPI assessment process, improving current
methods by introducing a mathematical foundation based on value-focused thinking. The proposed method allows
stakeholders to evaluate the organization’s KPIs in an effort to determine organizational performance against
predetermined KPI thresholds. The method is demonstrated on a case study and suggestions for future research are
offered. |
| first_indexed | 2024-12-20T07:43:34Z |
| format | Article |
| id | doaj.art-7cb3e1fb7c634782b3044898685e3d4a |
| institution | Directory Open Access Journal |
| issn | 1813-713X 1813-7148 |
| language | English |
| last_indexed | 2024-12-20T07:43:34Z |
| publishDate | 2017-09-01 |
| publisher | Operations research society of Taiwan |
| record_format | Article |
| series | International Journal of Operations Research |
| spelling | doaj.art-7cb3e1fb7c634782b3044898685e3d4a2022-12-21T19:48:03ZengOperations research society of TaiwanInternational Journal of Operations Research1813-713X1813-71482017-09-01144157167A Method for Key Performance Indicator Assessment in Manufacturing OrganizationsPatrick Hester0Barry Ezell1Andrew Collins2John Horst3Kaleen Lawsure4Department of Management and Accountancy University of North Carolina at Asheville Asheville, NC 28804Virginia Modeling, Analysis and Simulation Center Old Dominion University Suffolk, VA 23435 Virginia Modeling, Analysis and Simulation Center Old Dominion University Suffolk, VA 23435 Engineering Laboratory National Institute for Standards and Technology (NIST) Gaithersburg, MA 20899 Virginia Modeling, Analysis and Simulation Center Old Dominion University Suffolk, VA 23435 Key Performance Indicators (KPIs) are an essential element of an organization’s ability to monitor its strategic health, helping to ensure the strategic goals of the organization are achieved. However, KPI assessment and improvement is often an ad hoc and consultant-driven process rather than one undertaken using scientific principles. This paper outlines the development and subsequent deployment of a method for KPI assessment founded in scholarly literature and balancing practitioner concerns for ease of use. The proposed method draws heavily on organizational stakeholder involvement at varying levels throughout the KPI assessment process, improving current methods by introducing a mathematical foundation based on value-focused thinking. The proposed method allows stakeholders to evaluate the organization’s KPIs in an effort to determine organizational performance against predetermined KPI thresholds. The method is demonstrated on a case study and suggestions for future research are offered.http://www.orstw.org.tw/ijor/vol14no4/IJOR2017_vol14_no4_p157_p167.pdfKey performance indicatorsassessmentperformance managementperformance measurementdecision analysis |
| spellingShingle | Patrick Hester Barry Ezell Andrew Collins John Horst Kaleen Lawsure A Method for Key Performance Indicator Assessment in Manufacturing Organizations International Journal of Operations Research Key performance indicators assessment performance management performance measurement decision analysis |
| title | A Method for Key Performance Indicator Assessment in Manufacturing Organizations |
| title_full | A Method for Key Performance Indicator Assessment in Manufacturing Organizations |
| title_fullStr | A Method for Key Performance Indicator Assessment in Manufacturing Organizations |
| title_full_unstemmed | A Method for Key Performance Indicator Assessment in Manufacturing Organizations |
| title_short | A Method for Key Performance Indicator Assessment in Manufacturing Organizations |
| title_sort | method for key performance indicator assessment in manufacturing organizations |
| topic | Key performance indicators assessment performance management performance measurement decision analysis |
| url | http://www.orstw.org.tw/ijor/vol14no4/IJOR2017_vol14_no4_p157_p167.pdf |
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