Enterprise Resource Planning Performance Measurements:

Financial performance has been the primary measure of success in most manufacturing companies. Manufacturing companies have developed financial planning systems and financial statements for measuring their performance on a regular monthly, quarterly, and annual basis. Financial plans are generally stated in terms of Sales, Gross margin, Income, Investment and Return on Investment (ROI). These financial performance measurements have been developed and documented by the accounting profession and are well accepted by management and stockholders of manufacturing companies.

Manufacturing companies have not, however, done as well at developing effective operating systems and operating performance measurements. Today, manufacturing companies need to establish effective operating systems and operating performance
measurements to enable them to effectively manage business operations and meet business and financial objectives.

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Very few industries are unaffected by global competition. With higher levels of competitiveness it follows that the consumer will ultimately decide upon the products which meet their needs in the areas of product features, dependability,
availability and overall value. No business can afford to stand still. If a company is successful today it can be certain there is someone who is preparing to take all or part of the marketplace in the future.

In today’s business environment it is no longer good enough to be better than the competition down the street or in the local marketplace. Each company must strive to meet and beat the best from anywhere in the world. A business enterprise can no
longer think that failure to make it in world markets will not affect business in local markets. The very opportunity to compete in world markets carries with it the explicit threat that the same opposition experienced overseas can indeed knock the
company out of its local markets.

The response to this challenge of global competition is through the ideal of World Class Manufacturing. World Class Manufacturing is the term used to describe the very best manufacturers in the world. These World Class companies recognize the importance of manufacturing as a strategic weapon. Manufacturing plays a fundamental role in developing and sustaining customer satisfaction through the elements of quality, cost flexibility, reliability and innovation.

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