Bio-fuels are being increasingly projected as the 'substitute of fossil fuels'. However, the companies engaged in production of such material are required to operate in a highly constrained environment. This makes it necessary to analyze the situations in a detailed fashion and invariably a balanced scorecard seems like a feasible option. A BSC where perspectives like Production and Resource, Efficiency and Growth, Quality Enhancement and Awareness and, Research and Environmental are covered lends itself to a comprehensive performance evaluation of the organization. Production and Resource Perspective can be obtained with parameters like 'Gallons produced per year', 'cost per hectare', '% improvement in the availability of inputs/feedstock' and 'types of bio-fuel produced'. This is to ensure that enough volumes are being produced. Efficiency and Growth Perspective can be measured using metrics such as '% rise in process energy efficiency', '% reduction in production downtime', '% dip in biofuel production cost per hectare' and '% increase in production capacity'. This is needed to sustain the efficiency level of the operations. Quality Enhancement and Public Awareness Perspective is required to obtain the position held by the company, when it comes to quality issues. The metrics to be used can be 'level of compliance with ASTM standards', 'number of quality management techniques utilized' 'integration level of small or mid-sized plants with large-scale plants' and 'number of bio-fuel benefits awareness campaigns done'.The Research and Environmental Perspective can be evaluated with indicators like 'fraction research budget', 'number of potential sources of bio-fuels developed', '% decrease in carbon emissions during production processes and '% increase in Government aid'.
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Bio fuel manufacturing is concerned with deriving fuel, be it solid, liquid or gaseous from the available biological material. These are used for various options like powering vehicles, cooking and heating homes.
However, producing this category of eco-fuel asks for a regulated and controlled approach towards the subject. One of the ways in which this can be accomplished is by figuring out the useful metrics for this purpose and proceeding with the task. The eco-friendly nature of this group has made organizations and governments carry out the needed research and studies in the area. In this direction, bio fuel production scorecard comes to save the conductors of the analysis to help them go on the intended path and come up with some useful results.
One can frame the useful areas in the form indicators that have the potential of reflecting growth in right direction. Further, by continuously following this calculative approach, it is possible to put resources to most prudent options and derive maximum benefits from agro fuels. Owing to the advantages attached with this class of 'bio-fuel', this industry of bio-mass fuel has been expanding at considerable pace in several countries.
This is the actual scorecard with Biofuel Production Measures and performance indicators. The performance indicators include: production and resources perspective, gallons produced per year, cost per hectare, types of biofuel produced, % improvement in the availability of inputs/feedstock, efficiency and growth perspective, % rise in process energy efficiency, % reduction in production downtime, % increase in production capacity, % reduction in biofuel production cost per hectare, quality enhancement and public awareness perspective, level of compliance with astm standards, number of quality management techniques utilized, number of biofuel benefits awareness campaigns done, integration level of small or mid-sized plants with large-scale plants, research and environmental perspective, fraction research budget, % decrease in carbon emissions during production processes, number of potential sources of biofuels developed, % increase in government aid.
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