|Title:||Metrics for Supply Chain Benchmarking and Balanced Scorecard Development: Part 1, Value Proposition of Operational Excellence|
|Authors:||Jennifer Helm - University of Arkansas
Terry Tremwel - University of Arkansas
|Abstract:||One of the most important elements of top supply chains is the frequent use of performance measurements to check outputs and apply continuous improvement methods. The critical element in the development of metrics is to include varying measures in a balanced scorecard to achieve alignment with the business strategy. Firms often differentiate themselves through strategies and goals that determine the nature of firm operations. Performance measures must be aligned with the goals of the firm, and serve as a way to communicate to members of the organization what type of performance is desired Griffis, Cooper, Goldsby, & Closs, 2004. Linking performance measurement systems to supply chain practices can lead to increased success of supply chain initiatives Brewer & Speh, 2000. This essay provides a practical set of performance measures that can be used by supply chain professionals with a value proposition of operational excellence.|
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