A key performance indicator can be measured, and it usually tells how a business is adhering to its intended business model and strategies. The word “intended’ actually emphasizes how a business should choose relevant and effective measurements that directly or indirectly reflect the level of success in meeting its goals. A business must take into account three important questions while developing KPIs –

  • What is the best way to measure performance?
  • What absolutely must be done right?
  • What data is most pertinent to decision support?

As part of IIOT Industry 4.0 application, Utthunga Technologies, by virtue of its domain knowledge, can implement KPI managers for customers across industries. Implementation by us will include the supply of KPI manager application hardware, software, design, engineering and implementation.

It should be noted that, the mere development of a relevant KPI does not make the business successful. Effective implementation is very necessary and measuring aspects alone are not enough to yield success. The data related to KPIs should act as an essential guide for strategic decision making and not just be considered as a hard benchmark for performance.

Generally, in a manufacturing plant, the KPI implementation is carried out in a single phase. Practically, there is no dearth of performance related data in any industry and it is a given fact. The various sources of data can be the DCS of the processing units, Plant data archiving system, quality control database, plant automation systems, equipment health related systems, Environmental performance data, data on financial performance, business related data in the ERP and data available in personalized/legacy system.

The best way forward is to filter out the unwanted information and to ensure that appropriate and relevant KPIs are available to their intended audience. There can be scope for a holistic approach with globally strategic KPIs as a result of the global strategic planning or even regional, local or a product specific KPIs.

For manufacturing industry, the KPIs are usually classified under the following sub headings:

  • Business KPI
  • Process KPI
  • Production KPI
  • Equipment KPI
  • Inventory KPI
  • Quality KPI
  • Energy KPI
  • Maintenance KPI
  • HSE KPI

Recent Posts

  • IIoT
  • September 6, 2022

Role of HISTORIAN in a Fast-changing Industrial World

Big Data is the  buzzword as industries realize its growing importance and benefits. Many sectors are investing in data analytics to bundle intelligent information from data generated by connected machines across various pocket in the plant infrastructure. Such different forms of data come from sensors, edge devices, networks, industrial protocols in the form of signals, […]

Read more

  • Industry 4.0
  • OPC UA
  • August 30, 2022

Will Industry 4.0 Exist without OPC UA

A new genre of industrial data exchange between industrial machines and communication PCs is on the rise – the Open Platform Communications United Architecture (OPC UA). Interestingly, application manufacturers, system providers, programming languages, and operating systems have no bearing on this open interface standard. The most significant distinction between OPC UA and the previous versions […]

Read more

  • August 24, 2022

Microsoft Azure and Amazon AWS: Comparing the Best In The Business

Most professional advice will point towards a cloud-based service if your company explores hosting options for its official platform. Similarly, when you dive deep into the intricacies of cloud computing, you’ll find yourself bumping into Microsoft Azure and Amazon AWS as the two most viable options. Since choosing between these two most popular options can […]

Read more

  • IIoT
  • July 26, 2022

The Benefits of IIoT for Machine Builders

Improving customer service. Safeguarding customer satisfaction. Winning customer loyalty. Increasing service revenue. Augmenting aftersales turnover. These are some of the primary goals that machine builders have been pursuing. But, how many have been able to meet these goals? Unfortunately, not many, owing to the machine visibility challenges arising out of lack of meaningful data flow […]

Read more