Measurements, Metrics and the Value-Driven Operations Management System

Measurements, Metrics and the Value-Driven Operations Management System

By Steven A. Melnyk, Ph.D., CPIM

Pages: 61
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Metrics are often overlooked and their value underestimated by most managers. However, we are now starting to appreciate the value of measurement. We cannot have progress without measurement; we cannot hope to deliver superior value without having metrics to tell us what we are doing wrong, what we are doing right, and where to focus our attention for improvement. Metrics, in turn, emphasize the role of information. Information is a strategic asset and critical to our efforts to eliminate waste and enhance value. In "Measurements, Metrics, and the Value-Driven Operations Management System," Steve Melnyk explains what metrics are and how to use metrics. He also gives the reader a look at metrics within the broader corporate system of customer service.

Author bio:

Steven A. Melnyk, Ph.D., CPIM, is professor of operations management at Michigan State University. He is the lead author of more than eight books. He is also the editor of the first work devoted to the study of tooling in production and inventory control (Grand Rapids APICS/Michigan State University, 1988). His research interests include supply chain management, metrics/system measurement, time-based competition (TBC) and environmentally responsible manufacturing (ERM). Dr. Melnyk is an active researcher whose articles have appeared in such international and national journals as the International Journal of Production Research, the International Journal of Operations and Production Research, the Journal of Operations Management and Production and Inventory Management. In addition, Dr. Melnyk sits on the editorial review board for Production and Inventory Management and the International Journal of Production Research. He is also the software editor for APICS—The Performance Advantage and is the lead author of the monthly "Back to Basics" column found in that magazine.

Dr. Melnyk's contributions to the theory and practice of production and inventory management were recognized in 1992 by the Grand Rapids Chapter of APICS when they awarded him the Paul Berkobile Award. In addition, in 1999, Dr. Melnyk was recognized as a Faculty Pioneer by ASPEN Institute for his leading-edge work on integrating environmental concerns into business practice. Dr. Melnyk is listed in the 1995 to 1999 issues of Business Week: Guide to the Best Business Schools as one of the 10 outstanding faculty members of Michigan State University's MBA Program.

Table of Contents
Objectives
Preface
• IBM and Microsoft Clash over OS/2
Chapter 1. Metrics
• Why Metrics?
• The Functions Provided by Metrics
• Metrics and the Human in the System
Chapter 2. The Traits of Effective Metrics
• Categorizing Metrics
• Organizational Focus
• Predictive and Outcome Metrics
• Individual Metrics vs. Systems of Metrics
• The Strategic Profit Model
• The Balanced Scorecard System of Metrics
• Theory of Constraints-based System of Metrics
• Other Measurement Systems
• Other Methods for Generating Metrics
Chapter 3. Benchmarking — Developing the Standard of Comparison for Metrics
• Using Benchmarks to Develop Meaningful Metrics
Chapter 4. Customer Service — Applying Metrics within a Systematic Context
• Developing Customer Service Goals
• Customer Service, Gaps and Metrics
• The Case of a Failed Total Quality Management Initiative — Gaps in Action
Chapter 5. Learning Organization — Learning from Metrics
Chapter 6. Information and Metrics — Recognizing the Importance of Data
• Why Information Now?
• Information Challenges Facing Management
Chapter 7. Summary
Appendix A. Key Terms
Appendix B. Solved Problems
• Strategic Profit Model — Solved Problem
References
Footnotes

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