Notice in this blog series, as we have transitioned from “Working with KPIs I”, to II, to III and, now, to “Working with KPIs – IV Defining KPIs”, how the emphasis has shifted from putting in place methodologies to managing knowledge, information and data.
What is remarkable is this has been done with no required change to the venue where the knowledge, information and data is being consolidated (i.e. the Kbase).
In Working with “KPIs III – Setting Goals/Objectives”, we ended up with two major strategies.
#1. Scale-up of Plant A to meet increasing demand for 3D Printing Corporation’s USA-based manufacturing industry customers plus healthcare customers and prospective customers/partners.
#2. Locating, sizing and building Plant B (Singapore or UK) to service new healthcare customers outside of the USA.
The logical KPI choices for Strategy #1 would be to track the growth of manufacturing and healthcare customers plus the rate of conversion of prospects to customers/partners within the healthcare industry. (i.e. three KPIs).
As for Strategy #2, the lead KPI during the early phase of this project is likely to be tracking response to ad placement and trade show participation to determine overseas demand for 3D Printing healthcare products, followed by a KPI extracted from a 3rd party CPM application system (time, cost, plant capability) used to plan, monitor and control the construction of Plant B (i.e. two more KPIs).
Other KPIs might include a) monitoring changes in the competition b) monitoring changes in legislation and c) monitoring changes in the technology of 3D printing.
A key point is that when these KPIs are parked at the Kbase choices relating to KPIs and the relative importance of KPIs can be assessed in the context of 3D Corporation’s Asset Inventory and evolving Strategies and other content present at the Kbase.
There is an expectation here of being able to auto-update KPIs based on ongoing operational BPM/ACM Case activity as opposed to having to extract data from low-level transaction systems, carry out calculations on the data and then manually post results to the Kbase.
Behind the scenes, there will be several entity systems hosting data collection along BPM best practice workflows (i.e. manufacturing customers, healthcare customers, prospective customers in manufacturing and healthcare, prospective healthcare industry partners, new product designs).
This auto-updating of KPIs and trending of KPIs will be the focus of Working with “KPIs V – Measuring Performance”.
This blog post is #4 in a set of five, with titles as shown here below:
Working with KPIs I – Taking Stock
Working with KPIs II – Formulating strategy
Working with KPIs III – Setting Goals/Objectives
Working with KPIs IV – Defining KPIs
Working with KPIs V – Measuring Performance