ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Performance measurement is important because
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without it, managers would not know how the global economy is doing
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without it, managers would not know how the global economy is doing
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companies presently operating in the European Economic Community need to understand how its competitors are doing
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lower-level metrics in an organization must connect directly to the high-level performance to achieve goals
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Explanation:
Detailed explanation-1: -Why Are Logistics KPIs and Metrics Important? Logistics KPIs are a way for businesses to compare their own performance against industry benchmarks. By tracking KPIs, businesses have important data that enables them to improve operations. This data shows the mistakes and how to address them, reducing costs.
Detailed explanation-2: -A logistics performance measurement system (LPMS) is a system that integrates all relevant information about logistics activity results and provides feedbacks on how well logistics activities in fulfilling logistics objectives, serving customers etc.
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