Key Performance Indicators (KPIs) are essential to your organizational strategy. They enable you to visualize and break down your company’s performance in a quantifiable way. They help to define your goals from the outset and make sense of any data you’re collecting while showcasing the progress you’re making towards achieving your goals. The overarching purpose of measuring and tracking KPIs is to gauge your company’s long-term performance against its own targets and industry averages.
But, how do you know which KPIs you should be tracking? KPIs can vary from one department to another and certainly from sector to sector. It’s crucial to narrow your focus on the few vital metrics that impact your business the most. This requires a tool that provides you with all the information you need, including performance insights and historical trends, so that you can choose the right KPIs for your business.
Let’s look at how DATASCOPE WMS helped to completely transform the way one company does business by providing key insights into performance standards and targets.
WHICH METRICS DRIVE REVENUE: DETERMINING CRITICAL KPIS WITH DATASCOPE WMS
DATASCOPE WMS provides additional functionality over SYSPRO ERP through tools, processes, and solutions that help you manage your data and gain insights into your business.
Growth is a big part of American MetalCraft’s business plan. For this reason, they needed a KPI module that provided a comprehensive view of all their business activities, from warehouse control to inventory management.
American MetalCraft chose to evaluate the performance of inbound goods management, goods dispatch (including line fill rate and order fill rate), backorders, and accuracy in picking and order management. In other words, they wanted an overview of their entire system, from worker performance to overall warehouse performance.
With DATASCOPE WMS, American MetalCraft was able to:
- Define performance metrics and target values for each metric
- Automatically calculate KPIs using pre-existing data
- Aggregate KPIs for different sectors as well as the entire organization
The DATASCOPE KPI module produces a consolidated KPI score for each metric derived from all relevant measures. As a result, it’s possible to measure the business health of an organization and ensure that all processes are in-step with the same goals. American MetalCraft was able to reap immediate benefits upon implementing our WMS and the KPI module in their operation:
- For one thing, there was a lack of open orders in the warehouse. Since the KPI module allowed for an in-depth view into the organization’s processes, it became evident that the lack of open orders was because American MetalCraft was surpassing their normal daily volume of orders.
- Warehouse workers were able to evaluate their performance in real-time through employee performance statistics, which was another factor that increased overall efficiency.
- American MetalCraft was able to effectively track all inventory from raw material receipts and production to picking, packing, and shipping of finished goods. As a result, they were able to increase inventory accuracy, and further develop system-managed order management.
- If an order was late, it became possible to find out why and give processes or employees a much-needed nudge.
The KPI module seamlessly integrated into SYSPRO, allowing American MetalCraft to keep track of everything from short-term metrics like late orders to more strategic long-term metrics.
BEYOND STANDARD FUNCTIONALITY
Better data visualization means managers can better understand dynamic business processes and evaluate if the company is headed in the right direction. If they’re not, it’s possible to pinpoint the areas that need improvement. Going beyond the standard functionality of the KPI module, the WMS defines the full architecture of all the relationships within the SYSPRO warehouse structure, providing you greater visibility into your warehouse functions.
Other available modules within the DATASCOPE WMS infrastructure include advanced stock taking and cycle counting, inbound receiving, and warehouse movements. You can drill down to see data on a yearly, quarterly, monthly, weekly, and daily basis. You can dig out the data you need in just a few clicks.
What’s more, the user interface is interactive, so you can analyze every detail and glean insights into your most pressing questions. As such, you can explore strategic value drivers so you can align all levels of your organization (including departments and individuals) towards the same goals.
You can watch our full KPI webinar here co-hosted by American MetalCraft’s Head of IT, Tom Jurisch. We discuss in greater depth the KPIs that American MetalCraft has been applying to their business, why they’ve chosen those KPIs in particular, and the purpose of KPIs in general. To get started with DATASCOPE WMS in your business, schedule a demo today.