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Key Focus Areas for High-Performance Raw Material and Resource Management
Roger Knocker • February 6, 2024
Key Focus Areas for High-Performance Raw Material and Resource Management
1. Strategic Planning for Resource Optimization:
- Aligning raw material and resource management with overall business strategy.
- Identifying and forecasting raw material requirements based on market trends and production needs.
- Implementing risk management strategies for potential supply chain disruptions.
2. Operational Excellence in Material Handling:
- Streamlining procurement processes to reduce lead times.
- Implementing just-in-time inventory management to minimize holding costs.
- Ensuring accurate demand forecasting to prevent overstock or stockouts.
3. Technology Integration for Efficiency:
- Implementing advanced technology solutions for real-time tracking of inventory.
- Utilizing data analytics to optimize order quantities and reorder points.
- Integrating supply chain management systems for seamless coordination.
Here are some suggested Key Performance Indicators
- # On-Time Delivery Performance
- % Perfect Order Rate
- $ Inventory Turnover
- % Supplier On-Time Delivery Performance
- # Raw Material Cost as a Percentage of Revenue
- $ Logistics Cost per Unit Shipped
- % Forecast Accuracy
- # Stockouts per Month
- $ Cost of Goods Sold (COGS)
- % Lead Time Variability
- # Scrap Rate
- $ Days Sales of Inventory (DSI)
- % Supplier Lead Time
- # Order Cycle Time
- $ Raw Material Holding Cost
- % Order Fill Rate
- # Excess and Obsolete Inventory
- $ Capacity Utilization Rate
- % Demand Volatility
- # Supplier Quality Index (SQI)
Feel free to sign up for the KPI spreadsheet to access these and additional KPIs in a structured format that offers better context.
Watch the video below to see what you will get and how to use the KPI spreadsheet to take the guesswork out of KPIs
In the rapidly evolving world of data analytics, understanding foundational techniques is only the beginning. To truly stand out, data professionals need to go beyond the basics and leverage advanced methods that transform raw data into actionable insights. Building on Roger Knocker’s top 10 tips, this article explores advanced strategies to take your data analysis skills to the next level.
In a recent webinar, Roger Knocker, CEO of KPI Management Solutions, shared invaluable insights on extracting meaningful analysis from any data set. These strategies, honed over years of practical experience, are universally applicable—whether you're working with financial data, fitness statistics, or sales figures. Supported by research and best practices, here’s a breakdown of the 10 tips Roger presented to enhance your data analysis skills :