MAS Solutions LLC.
  • About Us
    • Our Company
    • Company News
    • Locations
    • Our Blog
  • Consulting Services
    • ISO 9001:2015
    • ISO 14001:2015
    • ISO 45001:2018
    • API Spec Q1
    • API Spec Q2
    • AS9100 Rev. D
  • Training Programs
    • For Practitioners
    • For Managers
    • Course Calendar
    • At Your Location
    • Custom Programs
  • Other Assistance
    • Vendor Inspection
    • Small Business
    • Lean Enterprise
    • Six Sigma
  • Our Work
    • Why Use MAS?
    • Our Approach
    • Proven Results
    • What Our Clients Say
  • Contact Us

Happy Halloween 2019

10/31/2019

0 Comments

 
Picture
Wishing all of our Friends and Clients a Happy Halloween!
0 Comments

ISO 9001 - Performance Indicators

10/15/2019

0 Comments

 
Picture

 QMS Performance Metrics

​A Quality Management System (QMS) should be a dynamic system, and provide a framework, for planning, executing, monitoring and improving the performance of quality management activities. In order to take QMS performance to higher levels, we must first understand and track where we are at, in terms of our current level of performance.
 
Performance can be related to the management of activities, processes, products, services, systems or organizations. Performance indicators, therefore, are the metrics we use to track our current performance at functions, levels and processes, in order to make data driven decisions related to the improvement our QMS. Understanding whether our QMS is effective, requires determining and evaluating these performance indicators against established performance criteria. 
​​

​Sample Metrics

To aid the reader in understanding the above concepts, I’m including several different metrics as examples. Business is not a one-size-fits-all activity, so the usefulness of these may vary. If any of these metrics are key to your business strategy, they would then be considered Key Performance Indicators (KPI's). Otherwise, they could still be considered, but in such case, they would simply be considered performance indicators.
 
Sample Business Metrics:
  • Revenue Growth Rate
  • Churn Rate
  • Acquisition Rate
  • Relative Market Share
  • Return on Equity
 
Sample Financial Metrics:
  • Monthly Recurring Revenue
  • Net Profit Margin
  • Operating Cash flow
  • Working Capital
  • Current Ratio
  • Budget Variance
 
Sample Sales Metrics:
  • Monthly New Leads/Sales
  • Lead-to-Customer Conversion Rate
  • Cost per Acquisition
  • Sales Qualified Leads
  • Customer Lifetime Value
 
Production Metrics
  • First Pass Yield
  • Rework
  • Scrap
  • On-Time Delivery
  • Capacity Utilization
  • Operating Efficiency 
  • Overall Equipment Effectiveness
  • Machine Downtime
  • Machine Set Up Time
  • Inventory Turns
  • Inventory Accuracy
  • Supplier Returns
  • Customer Returns
  • Training Hours
  • Employee Turnover
  • Revenue or Profit per Employee
 
Sample Marketing Metrics:
  • Website Traffic Per Source
  • Cost Per Acquisition
  • Marketing Qualified Leads
  • Net Promoter Score
  • Conversion Rate
 
Sample Project Management Metrics:
  • Planned Value
  • Actual Cost
  • Earned Value
  • Cost Variance
  • Schedule Variance
​

​Performance Indicators vs KPI's

While an organization may likely have many performance indicators, not all metrics are key to its business strategy, and the strategic outcomes determined by the organization.
 
While it’s common to use performance indicators interchangeably with Key Performance Indicators (KPI’s), such a description is incorrect. It is important to understand that, while all KPI’s are performance indicators, not all performance indicators are KPI’s. To keep these differences clear, just remember the following: “KEY” = key to our business strategy.

0 Comments

    Our ISO 9001 Blog
    ​Information, thoughts and periodic updates from MAS Solutions.

    ​Please Like or Share this page if you find the content useful, so we'll know to keep posting. Enjoy!

    Archives

    April 2020
    March 2020
    January 2020
    December 2019
    November 2019
    October 2019
    August 2019
    July 2019
    June 2019
    May 2019
    February 2019
    November 2018
    June 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017

    Categories

    All
    Certification
    Client News
    Context & Organization
    Documented Information
    Electronics
    Engineering
    Equipment
    Fabrication
    FAQs
    General
    Health And Safety
    Heat Treating
    IATF 16949
    Interested Parties
    Internal Auditing
    ISO 45001
    ISO 9001
    ISO 9001 Training
    Manufacturing
    Online Consulting
    Performance Improvement
    Planning Of Changes
    Presentations
    Process Approach
    Quality Objectives
    Recycling
    Remote Auditing
    Risk Based Thinking
    Surveys
    Training Courses
    Transportation

    RSS Feed

Proudly serving Houston TX and surrounding areas since 2006
Employment | News | Privacy Policy | Resources |​ Contact
​MAS Solutions LLC. | PO Box #227 | Tomball, TX  77377
Copyright © 2023 MAS Solutions LLC. All Rights Reserved.
  • About Us
    • Our Company
    • Company News
    • Locations
    • Our Blog
  • Consulting Services
    • ISO 9001:2015
    • ISO 14001:2015
    • ISO 45001:2018
    • API Spec Q1
    • API Spec Q2
    • AS9100 Rev. D
  • Training Programs
    • For Practitioners
    • For Managers
    • Course Calendar
    • At Your Location
    • Custom Programs
  • Other Assistance
    • Vendor Inspection
    • Small Business
    • Lean Enterprise
    • Six Sigma
  • Our Work
    • Why Use MAS?
    • Our Approach
    • Proven Results
    • What Our Clients Say
  • Contact Us