Operations and performance management is an area of management concerned with the process of transforming inputs (i.e., raw material, labor, energy, technology, information) into usable goods and services through sustainable processes (i.e., planning, design, execution, control). With good operation and performance management, competitive cost, time, quality, productivity, and flexibility in delivering goods and services can be achievable.
Since operations and performance management forms part of the core function in an organization, Cynet provides you with the best services in this regard, majorly through research. To meet your value, we’ve integrated operations and performance management to cover the following areas: operations strategy, supply chain management, quality management, technology and information system, and performance management. We have integrated a team of professionals to covers topics such as product strategy, supplier management, innovation and product development, process design, customer relationship management, green supply chain, logistics, technology adoption, managing information system, quality control, performance measurement, etc.
Our mission is to provide operations knowledge to young aspiring leaders, executives, scientists, and technologists to become leaders in their working places with working knowledge and competence of applying the knowledge to find effective solutions to problems in the field and contribute significantly to society through service activities and research publications.
The integration between operations and performance management is a close relationship. Understanding how these two disciplines interact with each other is crucial to successful operations management.
There are 3 functions that performance metrics should provide:
- Control: Metrics should enable managers to evaluate and control the resources they are responsible for.
- Communication: Metrics convey performance to internal workers and external stakeholders. Internally, it allows us to communicate goals and standards. External stakeholders do not need to understand the internal processes within a company, but metrics allow us to give stakeholders the knowledge of what needs to happen.
- Improvement: Metrics identify discrepancies or gaps between performance and expectations. This identifies opportunities and points us toward improvement. So how do we overlay that to your business strategy and ensure customers are serviced to the standards and expectations established?
To ensure you’re truly satisfying your customers and not just meeting the bare minimum of their expectations, you need to know what types of metrics you need to measure to deliver overall customer satisfaction. Also, ensure key performance indicators include the required attributes to deliver the business strategy.
Key performance indicators (KPI’s) require 4 attributes. These include:
- Measure: express the activity we intend to measure, i.e., the number of new customers.
- Target: the numerical value we want to achieve; this needs to be derived from our due date, i.e., we want 70 new customers
- Source: the data system we are going to use to calculate our metrics.
- Frequency: how often we need to evaluate and measure these goals, i.e., monthly, quarterly, annually etc.
Performance measures can be extremely helpful, and that’s why we use them to help enhance your operations processes. Keeping in mind the motivations of employees and the risks for the tendency of managers to lose sight of the strategic goals and measures intended to control them and subsequently act as though the measures are the goals. This will help us develop performance metrics that support your operations strategies to deliver the business strategy.
