Determining how efficient your supply chain is can be a complicated process. This is because efficiency can be measured in a number of ways and there isn't a 'standard’ set of benchmarks. What may be right for your business, may be different from others. For example, a construction company's highest priority could be measuring the amount of downtime on an asset (an indicator of operational efficiency and productivity), compared to a food and beverage manufacturer who's highest priority is measuring the amount of raw materials written off (an indicator of profit margins and consumption).
So the million dollar question is – which supply chain Key Performance Indicators (KPIs) are right for you?
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