Key performance indicators come across as an 'easy to formulate and follow' options for keeping a track on the management issues involved in the production of Aluminum. Some of the perspectives, which can be of help for the organization involved in this task are- Financial, Environmental and Employees, Internal Operations and Production. Financial aspect can be quantified using KPIs like Operating profit, Free Cash Flow, Revenues and Return on Capital Employed. This is to ensure that enough monetary benefits are being drawn. Production can be had with indicators like cost and quantity of metal produced, % decrease in losses and site utilization. It helps the manufacturer in paying deserving attention to the generation part.Internal Processes can be obtained with 'number of sectors that are served, energy-mix usage and inventory turns observed. This is required to make the internal procedures run smoothly.Environmental issues can be taken care of by depending on indicators such as % dip in the emission of harmful chemical and gases like Perflourocompounds, fluoride etc. This is to minimize the environmental degradation, owing to the deteriorating condition of it.
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Aluminum is used in the construction of a number of heavy equipments such as aircrafts. The deposits of the ore from which this metal is derived can prove to be an important factor on which a nation's progress depends, in long term.
Such a reality makes for a compelling reason to go for a 'calculative approach' towards the handling of this subject. This is to say that organizations involved in manufacturing of Aluminum often utilize an Aluminum production scorecard to 'count' the steps and procedures that occur in the process. Such a number assigning act eases the task manifold as wastage gets minimized to a considerable extent and proper utilization of resources is something that becomes 'obvious'.
Owing to some of the amazing properties of this metal, it scores well beyond other competitors like iron and steel. This in turn gives thrust to the range where it can be out to use. The job of making 'demand' meet 'supply', when it comes to Aluminum metal production gets simplified when one goes with the metrics approach mentioned earlier. As a result, producing Aluminum so as to contribute to the nation's economy can be materialized using the BSC (Balanced Scorecard) idea. Supplying aluminum comes up as a much easier task by opting for this thought.
This is the actual scorecard with Aluminum Production Measures and performance indicators. The performance indicators include: financial perspective, revenues, operating profit, free cash flow, return on capital employed, production perspective, production, unit cost, % site utilization, % reduction in metal losses, internal processes perspective, number of sectors served, inventory turns, energy mix usage including renewable resources, number of shipment delays experienced, environmental and employees perspective, reduction in pfc (perfluorocarbon) greenhouse gas emissions for per tonne of aluminum produced, reduction in fluoride emissions for per tonne of aluminum produced, reduction in smelting energy usage for per tonne of aluminum produced, number of employee exposure assessments and medical surveillance programs conducted in a year, lost time injury frequency rate.
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