Management by KPI
Warning… management decisions based upon information obtained by dashboards built from KPIs alone will not satisfy your stakeholders.
Medical device manufacturers don’t excel at identifying emerging quality issues or systemic constraints in a timely manner because they typically use key process indicators (KPIs) inadequately. Dashboards are often built using KPIs with the expectation that they will provide direction. They will not. This results in people staring at the KPI information like deer staring at headlights. Bewildered and without answers. So what is the correct use of KPIs?
Simple metrics provide basic information in the form of quantitative data. KPIs are created when simple metrics are combined to provide quantitative information. KPIs are then used to build analytical algorithms that are defined to provide understanding about just what it is that we want to know about current circumstances, and therefore are strategically constructed to be predictive in nature. Analytical algorithms enable us to predict the future to better understand what could happen if the drivers of the underlying drivers of the data are not modified.
E-mail firstname.lastname@example.org to learn more about utilizing the QSM solution to better measure the quality of your product and the processes within your QMS.