Before a system of measurement is unleashed, it must be thoroughly tested. When testing, think like your best and worst employee. Think like a cheater.
- A supplier scorecard is a tool that is often used…to evaluate potential suppliers.…A supplier scorecard can be a good idea…because it forces a company to determine…what are the important criteria in choosing a supplier.…Why is developing a supplier scorecard important?…Well, it helps the company stay on target.…Rather than choosing a supplier…that has a great salesperson,…but might only do well in a few categories,…the supplier scorecard can remind managers…that they are looking for a more complete sales package.…
The supplier scorecard might even motivate…the purchasing manager to ask…a diversified set of questions.…A supplier scorecard is also a good opportunity…for communication before the sales pitch.…Good salespeople don't want to waste your time.…They want to sell you the right product.…They want to make you happy…so you'll buy from them again in the future.…If your company provides the salesperson…with the information contained on the supplier scorecard…before the sales pitch, the salesperson will be motivated…
- Explain why metrics are necessary in business settings.
- Define KPIs.
- Identify the issue of attempting to reach 100% in a given metric.
- Summarize the limitations of metrics.
- Recall the three steps for making a metric understandable for employees.
- Describe the characteristics of an effective metric.
- Compare and contrast the costs and benefits of measuring too many versus too few metrics.
Skill Level Intermediate
Balanced Scorecard and Key Performance Indicatorswith Jim Stice1h 17m Intermediate
1. How and Why We Measure
2. Errors and Challenges in Measuring
3. Developing a Good Metric
4. A System of Metrics
5. Performance Measurement Tune-Up
6. Above and Beyond
Next steps1m 57s
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