Estimate the Performance of Modular Manufacturing with Scorecard
Continuously changing market requirements, dreadful employee turnover ratio, increased rate of employee satisfaction, etc. are some common problems that manufacturing companies experience, and that-s why, even after reaching at a satisfactory level of performance the ever changing business world forces these companies to fall down at their initial position.
Modular manufacturing has emerged as a solution to these problems of manufacturing companies. For this purpose, Key Performance Indicators (KPIs) can act as one of the best approach.
For modular manufacturing, KPIs can be divided into four broad perspectives. Financial perspective takes into consideration all the costs related to the implementation and development of this concept in the organization, and include indicators as % savings in inventory costs, % savings in transportation costs, % increase in revenues and % savings in labor costs.
Operational perspective helps in judging the various operations of modular manufacturing approach. It includes such perspectives as machines modules re-utilization, % decrease in production-to-market lead time, % reduction in manufacturing lead time and % increase in productivity.
Internal process perspective consists of KPIs like number of productions assignments completed on time, integration capabilities, interaction level and % reduction in down time.
% decrease in standard production hours, % decrease in defect rate, % reduction in inventory levels, and waste ratio reduction are the indicators involved in the fourth and the last perspective, i.e. Efficiency.
Why do business professionals choose ready-to-use KPIs?
Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
- Can a business professional research KPIs on his own?
- How do I avoid typical problems with KPIs?
- Is ready-to-use KPI applicable in my niche?
- Is KPIs' price affordable?
- Can KPIs can be easily integrated in any business environment?
- How can KPIs make the difference to the business?
What are the benefits of Modular manufacturing metric:
- Modular manufacturing KPIs are divided into the 4 traditional perspectives, including the financial one that has such KPIs as savings in inventory costs or increase in revenues.
- Of course, measuring operations is all important for manufacturing. Thus, managers will be able to evaluate decrease in manufacturing time and increase in productivity.
- Through evaluation of reduction of downtime, it's possible to evaluate causes of major problems that lead to decrease in productivity.
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More ideas on using Modular manufacturing KPI
Modular manufacturing aims at changing manufacturing rules for better. The process has been touted to give way to another industrial revolution that will re-define the dynamics of manufacturing industry.
Some of the benefits to emerge from this MPS (Modular Production Systems) thought are 'lowered inventory level', 'decreased time to market', savings due to less production costs' etc.
The underlying principle is that manufacturers should devote more of their time and energy in 'product design', 'marketing' and 'sales' of products and services rather being involved in shop-floor operations. Sophisticated and efficient hardware and software will be provided by capable people and engineers to leave manufacturers with ample resources to be put to better use.
Looking at the basics, there are about two categories of MPS machine elements- PMPs (Process machine Primitives) and MAEs (Modular Actuator Elements).
The reason for evolution of this discipline is the rise in concerns of 'cost effectiveness', 'responsiveness' and 'shortening product-life cycles'.
However, once the elements of modular manufacturing are in place, subject of monitoring it effectively starts raising its head. This can be tackled by bringing in the organization a management strategy called BSC i.e. Balanced Scorecard.
One can out down the useful metrics on it to be followed at later stages for accurate tracking purposes. Several benefits have been extracted from this measurable approach.
More useful information for Manufacturing Estimation
Modular manufacturing Evaluation Balanced Scorecard Screenshots
Metrics for Manufacturing Estimation
This is the actual scorecard with Modular manufacturing Performance Indicators and performance indicators.
The performance indicators include: modular manufacturing, financial perspective, % savings in inventory costs, % savings in transportation costs, % increase in revenues, % savings in labor costs, operational perspective, % decrease in production-to-market lead time, machine modules re-utilization, % reduction in manufacturing lead times, % increase in productivity, internal processes perspective, number of production assignments completed in time, integration capabilities, interaction level, % reduction in down time, efficiency, % decrease in standard production hours, % reduction in defect rate, % reduction in inventory levels, waste ratio reduction
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