Subject Area: Qualitative Spare Parts Management Improvements
Everybody loves hard data.
We measure and report all sorts of things: sales, costs, profit, loss, headcounts, inventory values, production volumes, expenses, vacation time, sick leave, stock turns, purchase volumes, operating effectiveness, debtors, creditors, weeks of stock on hand, asset values, revenue, equity, cash on hand, plant utilization, downtime, uptime, scrap generated, environmental emissions, cash flow, capital expenditure, return on investment, share price, depreciation.
The list seems almost endless.
All of the above (and I am sure that there are many more measures) are outcomes, they are the measurable effects of our actions.
And that is a major problem.
You see being an outcome we can’t measure the result until after the event.
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Posted by: Phillip Slater