Operations Management
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Operations Management

Improve Operations Management. Learn how to develop the metrics that will help you measure and monitor what works for your business and what does not. All businesses have several key metrics that can let the owner how the business is performing. These metrics can be used in all areas. Sales, production, quality, delivery etc, can be measured. Knowing what to measure is critical for making good decisions.

Examples for each function area are listed below.

  • Sales – Number of leads generated, closing percentage, and average revenue per order.
  • Production – Pieces produced per hour, material yield, labor hours and labor dollars.
  • Inventory – Inventory turnover, inventory age, and inventory value.
  • Quality- Customer returns or call backs, average cost of rework and repair.
  • Accounts receivable – Average days outstanding, collections compared to payment terms.

I met with Steven recently, because I wanted to take my business to the next level. At the beginning of each new year, I review my business plan and tweak it accordingly. About mid-way through the year, I review it again to see where I’m am, if I’ve met my goals and when, etc.

After 7-1/2 years in business, I felt that it was time to get some outside help. I was missing something and I just did not know what to do. Steven was able to hone in on some problems I was having. He was able to steer me in a direction that will put my bottom line into a better, more positive cash flow. Because of his help, I feel that my business will grow substantially throughout any economic slowdowns. I highly recommend him to anyone that wants to fine-tune or grow their business. Steven is easy to work with and I think you will value his expertise as I do.