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Title: Analysis of performance and key performance indicators in the lean companies
Authors: Savković, Marija
Nestic, Snezana
Komatina, Nikola
Mijović N.
Journal: IETI Transactions on Engineering Research and Practice
Issue Date: 2019
Abstract: The aim of this paper is to analyze the performance and key performance indicators (KPI) in the lean companies. The paper points out the importance of analysis of performance and key performance indicators in lean enterprises taking into account the specific characteristics of these enterprises. Also, the paper identifies the most significant performance and key performance indicators. Modern business environment imposes a need for detailed analyzes of performance and key performance indicators. Analysis of key performance indicators is very important because key performance indicators measure the achievement of the vision, strategy and objectives of the company. Also, key performance indicators provide measurable, reliable, real information for the implementation of appropriate corrective action if performance are not aligned with the company goals. Identification and analysis of performance and KPI provides the basis for their further improvement in order to adapt and achieve better results of enterprises in modern changing business conditions. Lean means modern business philosophy characterized by striving for the elimination of all forms of loss and waste of productive resources, while simultaneously improving the quality, flexibility and speed of response to impulses coming from the turbulent environment. Lean concept allows that with an investment of less human effort, less equipment, less time and less space achieve better performance. The main objectives of the application of this philosophy are improving product quality, delivery of the product at the appropriate time and at an appropriate price, increase productivity, reduce inventories, building solid, reliable and long-term relationships with suppliers, business partners and customers. Therefore, analysis of performance and key performance indicators in these companies is crucial.
Type: article
DOI: 10.6723/TERP.201912_3(2).0004
ISSN: 2616-1699
Appears in Collections:Faculty of Engineering, Kragujevac

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