Manufacturing, 20 metrics & KPI
Before dashboard creation, it’s important to define metrics and key performance indicators (KPI). Which of them will you use into your dashboard? This choice depends on your function, your strategy and your market. Difference between metric and KPI is objective. A KPI is a metric with an objective, a status and one or more trend(s).
You can use these metrics and KPI for strategical, tactical or operational dashboard. Context and filter will define the level. Be sure to develop your dashboard according on your organizational strategy and with manufacturing team, plant and organization analysts and plant managers.
There are others metrics and KPIs for manufacturing. I’m listing some KPIs that I often implement for my clients.
Manufacturing Metrics and KPI list
I propose to present 20 metrics and KPI for manufacturing (warning: average have to be analyzed with standard deviation. You can replace average by median):
Faults detected prior to failure
First aid visits
Machine modules reuse
Maintenance cost per unit
Manufacturing cost per unit
Mean time between failure (MTBF)
Mean time to repair
Number of production assignments completed in time
Percentage increase in productivity
Percentage reduction in defect rates
Quality improvement (first-pass yield)
Quality tracking – six sigma
Storehouse stock effectiveness
To calculate these metrics and KPI you need to have access to your data: management system, payroll and HR system, accounting system, plant system.
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