Monthly Archives: October, 2021

50+ KPI Templates, Scorecards, and Dashboards for Measuring Business Success

October 22nd, 2021 Posted by KPIs, Research 0 thoughts on “50+ KPI Templates, Scorecards, and Dashboards for Measuring Business Success”

KPI templates are developed to help organizations find the right key performance indicators (KPI) for their business.

With over 17 years of research on KPI best practices, The KPI Institute emphasizes that KPIs and their value are defined and perceived depending on the industry, functional area, organizational focus, and public, private, or personal domain of application.

What is a KPI?

The KPI Institute defines KPI as a measurable expression for achieving the desired results in an area relevant to the evaluated entity’s activity. KPIs make objectives quantifiable, providing visibility into the performance of individuals, teams, departments, and organizations and enabling decision-makers to act on achieving the desired outcomes.

Typically, KPIs are monitored and communicated through dashboards, scorecards, and other forms of performance reports.

In performance management, a dashboard is used for monitoring data daily. It is characterized by visual representations of data that enable a fast and easy understanding of the performance status.

Measuring performance with dashboards and configuring it requires using enough KPIs, aligning KPIs across the organization, and establishing accountability. To design an effective dashboard, an organization should choose the most relevant KPIs, ensure the presence of precognitive attributes in the visuals, make the features interactive, and regularly provide updates.

A balanced scorecard is a tool in strategic planning and performance management that shows the four dimensions of an organization: financial, customer, internal processes, and learning, and growth. Some of the benefits of using a balanced scorecard are integrated strategic planning, the alignment of KPIs with strategy at all levels of an organization, and a comprehensive view of business performance.

The KPI Institute has put together KPI templates and a platform where you can download scorecards, dashboards, and other performance templates.

key performance indicators

For inquiries, email us at [email protected] or call T: +61 3 9028 2223 M: +61 4 2456 8088.

Reach New Career Heights: TKI’s Executive Education in Strategy and Performance

October 15th, 2021 Posted by Certification, Courses, E-learning 0 thoughts on “Reach New Career Heights: TKI’s Executive Education in Strategy and Performance”

Strategic agility is where innovation, adaptability, and high performance intersect. The KPI Institute (TKI) launched the Executive Education in Strategy and Performance to help business leaders create opportunities and develop strategies that will take their performance to the next level. 

Dealing with dicey market conditions, tech disruptions, and emerging trends, future-ready companies understand that they can either create the change or simply react to it. 

“Nowadays, we are living in a fast changing and disruptive world, which affects both organizations and their leaders, who need to move beyond the conventional way of management in order to remain relevant,” said Teodora Gorski, the program director of the Executive Education in Strategy and Performance.

The Executive Education in Strategy and Performance provides new learning experiences, up-to-date knowledge, and best practices for several areas that matter to business leaders today, including strategic planning, performance measurement, data analysis and reporting, and strategy execution in dynamic markets.

The program is designed for experienced professionals and consultants in the strategy and performance management field, C-level executives, middle management, SME leaders, and business analysts. 

Participants who will sign up for the program can obtain one of the following:

The Graduate Certificate in Strategy and Performance covers the basic disciplines in strategy and performance management. Participants will get 120 CPD points, one graduate certificate, and four individual certifications. The program is packed with interactive courses and discussions as well as toolkits and templates.

With its focused approach and customizable course selection, the Graduate Certificate in Strategy and Performance will provide participants with access to in-depth strategy and research and a network of professionals who can share their experiences and business knowledge.

“With the Graduate Certificate in Strategy and Performance, professionals will learn how to create a strategy, select and use KPIs in their company, learn about performance management & measurement, and end up being agile,” said Roxana Barb, Head of Educational Programs at TKI.

The Postgraduate Diploma in Strategy and Performance provides a more in-depth understanding of strategy and performance management. While the Graduate Certificate in Strategy and Performance features four courses and lasts for 12 months, the Postgraduate Diploma in Strategy and Performance is an 18-month long program with six mandatory courses and two elective courses.

“At The KPI Institute, we aim to develop a new generation of executives, one that is ready to surmount any business trials or obstacles, much like a seasoned general. The Executive Program in Strategy and Performance is aimed at developing the right skills and competencies to help those in positions of leadership conquer any management hurdles in the strategy and performance field of practice,” said Adrian Brudan, managing partner at TKI. 

 

To learn more about the requirements and schedule, get in touch with our program advisors:

 

Middle-East Advisor

Teodora Gorski

Managing Director MENA

E: [email protected]

M: +971 55 787 6427

 

Worldwide Advisor

Alexandru Muntean

Head of Customer Engagement

E: [email protected]

M: +40 747 060 997

 

Asia-Pacific Advisor

Sasikala Annamalai

Senior Business Development Manager

E: [email protected]

M: +60 12 591 1366

Supply Chain Performance Management Framework, Models, and KPIs in One Course

October 12th, 2021 Posted by Certification, Courses, E-learning 0 thoughts on “Supply Chain Performance Management Framework, Models, and KPIs in One Course”

supply chain certification

Pandemic disruptions, shifting consumer demands, and sustainability efforts have seeped through the world of supply chain this year.

Shipment delays are prevalent as companies restock goods to meet surging customer needs. The shortage of sea containers further complicated the situation. In March, only 40% of container ships had arrived at ports on time. Fluctuations in the global supply chain are behind the mounting transportation and materials costs.

As they navigate the new normal, supply chain professionals should not neglect their buyer-supplier relationship as well as their suppliers’ performance. Supply chain professionals are responsible for all the facets of the business, including purchasing, quality management, procurement, traffic analysis, and supplier relationship management.

They are expected to come up with solutions as they respond to supply chain management trends. Some of the major trends are automation, agility, omnichannel usage, and compliance in sustainability initiatives.

To ensure a smooth, efficient procurement activity amidst such changes, organizations must pay attention to the supplier relationship dynamic.

The KPI Institute is holding the Certified Supplier Performance Professional Live Online training course for individuals who want to implement a framework for the KPI development and monitoring of their company’s supplier management process.

Participants will discover the most relevant KPIs to monitor for supply chain performance. They will also learn how to create a supplier selection process and use various supplier segmentation models.

From theoretical foundations to industry experience, the course is designed to help companies maximize their competitive advantage through the proper supplier selection and evaluation tools.

The training session will be delivered by Cristina Bleoca, a purchasing and supply chain management specialist with over 10 years of experience in the automotive and FMGC industries. Among the highlights of her career was her participation in international research partnerships as well as in national and international training courses.

The final Certified Supplier Performance Professional Live Online training course for the year is happening on 18 – 22 October. Don’t miss the chance and secure your spot here.

For inquiries, get in touch with Teodora Gorski, Managing Director MENA: email [email protected] or call +61 3 9028 2223.

What is a Balanced Scorecard? Meaning, Examples, and Insights from the Pros

October 5th, 2021 Posted by E-learning, Events 0 thoughts on “What is a Balanced Scorecard? Meaning, Examples, and Insights from the Pros”

balanced scorecard certification

What is a balanced scorecard? A balanced scorecard (BSC) is a tool in strategic planning and performance management developed by Prof. Robert Kaplan and Prof. David Norton in 1992. It provides organizations a comprehensive view of their business performance.

A BSC shows the four dimensions of an organization: financial, customer, internal processes, and learning, and growth. With this, managers can allocate resources properly and determine the areas that need improvement. The scorecard is also used to align key performance indicators (KPIs) with strategy at all levels of an organization: the strategic, the operational, and the team and individual.

When done right, a BSC can help companies save time and resources, improve their procedures, and keep them on track in terms of objectives.

The Certified Balanced Scorecard Management System Professional (C-BSC) course of The KPI Institute (TKI) will show how your organization can develop and implement a Balanced Scorecard Performance Management System Architecture.

Facilitated by experienced analysts and experts, the C-BCS training course offers toolkits, templates, case studies, and good practice examples to help participants understand and analyze the fundamentals of a BSC system. They will learn how to formulate the main elements of a BSC system and implement the framework in their organizations.

The 40-hour training course comes with pre-course requirements, live online sessions, an individual learning map, a certification exam, and after-course requirements.

In the fourth quarter, the C-BSC in Arabic will be held online on 24 – 28 October 2021, while the C-BSC in English is happening on 29 November – 3 December 2021.

For more information, get in touch with Teodora Gorski, Managing Director MENA: email: [email protected] or phone: +61 3 9028 2223.

The Future of Production: Top 25 KPIs to Track for Efficiency and Quality

October 1st, 2021 Posted by Research 0 thoughts on “The Future of Production: Top 25 KPIs to Track for Efficiency and Quality”

KPIs production

Production KPIs matter now more than ever as businesses recover from the shocks brought about by the pandemic. When the global crisis slowed down production processes, companies were forced to make difficult strategic decisions.

Market shifts, movement restrictions, and material scarcities stemming from supply chain disruptions have affected several areas of the production process.

For instance, chemical manufacturers worldwide had to trim down capital and operational expenditure and shrink their operations to 40-60 percent capacity. This is due to insufficient manpower, dwindling demand, and inadequate raw material supplies, according to the data published in Manufacturing Tomorrow.

To meet contractual obligations and increase productivity, companies are encouraged to rethink their processes, explore new opportunities, and adapt to trends.

Digital connectivity is among the trends that will dominate industries as the 5G coverage worldwide continues to expand. Sustainability is also seen as a critical factor that will shape business operations and investments. The global market for green building materials is expected to grow from US$238 billion in the year 2020 to US$425.4 Billion by 2027.

Developing a new production strategy

However, the future of production is not just about the what and the why but also the how.

The potential of innovative technologies and business models can be further realized if their application is based on data-backed decisions. Such decisions help companies minimize risks, carry out relevant strategic plans, and see what works and what doesn’t.

With this, decision makers and managers should pay attention to their production KPIs, which aim to guarantee the quality of the production process, from efficiency to productivity as well as the quantity and quality of output.

The KPI Institute has released “The Top 25 Production KPIs – 2020 Extended Edition” to provide companies an international perspective on the most popular production KPIs. It is designed for organizations and professionals who want to measure the components that contribute to the successful implementation of a production strategy.

With over 100 pages, the report presents the most viewed KPIs based on the information gathered from smartKPIs.com, a database of over 20,000 documented KPIs.

You can download the “The Top 25 Production KPIs – 2020 Extended Edition” to access the profile of each KPI and learn its potential impact on your production strategy. You will also find exclusive in practice recommendations and best practices for KPI selection and documentation.

Here is an overview of the top 25 KPIs categorized into five areas:

Production Efficiency – ensures that the production locations are always running at full parameters.

  • # Units per man-hour
  • % Production capacity utilization
  • # Ideal run rate
  • # Production capacity
  • # Unused production capacity
  • # Work in progress
  • # Production lead time
  • % Downtime due to operator lack of training
  • % Unplanned downtime in production

Production Timeline – indicates all the time-related aspects of the production process.

  • % Production schedule attainment
  • % Production schedule adherence
  • % Production uptime
  • # Unit production time

Inventory – describes the amount of products on stock either from returns or demand, excluding the safety stock.

  • % Recovery yield rate of returned products
  • # Working stock
  • $ Work in progress
  • % Production delays due to raw material shortage
  • # Decoupling stock
  • % Boomerang return rate
  • # Frequency of production delays due to inventory shortages or supply delays

Maintenance – monitors the upkeep of the production plant and equipment.

  • # Production plants
  • % Machine utilization in production

Production Costs – refers to expenses implied by the production processes.

  • $ Penalties cost due to unsatisfied demand
  • $ Production costs per unit
  • $ Direct material variance

Read more about each of the KPI in “The Top 25 Production KPIs – 2020 Extended Edition.”  You can also sign up for the live online course offered by The KPI Institute to learn how to implement a KPI Measurement Framework in your organization.

For inquiries, get in touch with Cristina Mihăiloaie, Business Unit Manager – Research Division: [email protected], +61 (390) 282 223 or +40 (749) 424 517.

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