Leading and Successful manufacturing companies manage their operations through the collection, reporting, and evaluation of critical business information usually referred to as Key Performance Indicators (KPI). Historically, this has been focused primarily on Sales and Financials. Additional KPIs often include: total sales revenue, gross-margins, customer orders, order forecasts, raw material costs, sales by product or region, A/P, A/R, and industry specific metrics. Having fast and accurate access to this information allows managers to make key decisions about how to reduce COGS (Cost of Goods Sold) and operating expense while improving top line sales.
There are several software tools available to allow businesses to collect, report, and manage this information; from simple spreadsheet programs to more complex ERP systems. However, the solutions available to collect, extract, analyze, and report business operating data are… Read More