XYZ Healthcare CEO: David Bland Industry: Small Healthcare supplier The company
ID: 433881 • Letter: X
Question
XYZ Healthcare CEO: David Bland Industry: Small Healthcare supplier The company manufactures and distributes supplies for hospitals in the greater Miami-Dade area in Florida. Your CEO stopped by your office and asked about a business intelligence dashboard. What are the key performance indicators that would make sense for our company to use? Be sure to describe how business intelligence can help manage a company and help save money. Also provide examples of common performance dashboards. You may find supporting research in the Rasmussen library to support your suggestion to the CEO, but you may find them on company websites. Please find at least 3 references to support your suggestion.
Explanation / Answer
Key Performance Indicators for a Business Intelligence Dashboard
1.Productivity metrics - Production Output, production cycle times, capacity utilization, supplier fill rate, adherence to production plan
2.Financial metrics - Gross Profit margin, Accounts receivables, overhead costs, profitability for each supplier and segment
3.Quality metrics - Customer satisfaction, defective product rate, product performance , warranty and returns
4.Marketing metrics - Sales Revenue, Marketing ROI, Customer Value, market share, customer acquisition, sales volume per customer.
5. Supply chain metrics - On time deliveries of order, Total inventory available, Stock turnover rate, transportation costs, processing time
Business Intelligence can help in developing performance focussed culture across the business organization. It makes use of the data and information against the KPIs listed and measures the performance versus the targets as per the business plan and goals. This helps incontinuous monitoring and taking any corrective action in time for improvement of the business. It helps to save money as the efficiency of various functions and processes can be improved and the resources can be focussed on the areas which are lagging behind and affecting organizational performance.
Examples of common performance dashboards - Oracle Business Intelligence , Sterrad Velocity , Kibana. References of organizations using these performance dashboards are GE Healthcare, Enercon technologies, Johnson and Johnson.
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