Measuring performance boils down to feedback in my mind. I can reflect and relate to this term because it is important to me to have a feedback to see how my performance is being measured up to my peers. Also, to tell me where I need to step it up and where I need to improve in. Giving feedback to leadership is important as well to show them where we need them to be and how they are performing in guidance and leading.
The supply chains need to measure their performance as well. They have to continue to grow and the way to do this is by measuring performance and learning from it. There was a great example that I read in an article talking about how a car is a great example of measuring performance. You can think of it like a car and imagine if you were driving without an odometer but think that you are adhereing to the speed but then you get a ticket. Then if you keep driving and slow down you will run out of gas because you don’t have a gas gauge either. This shows that you could have the measurements but still have issues just like this car example.
There are different ways that supply chains can measure their performance. It seems that each method gauges financial matters, customer feedback, delivery times, and inventories (mThink, 2000). Measuring performance is important for supply chains and can help out strategically speaking for supply manager. I see how a lot of these terms can all relate to each other and affect the supply chain overall. Supply chain managers should be always looking at suppliers , delivery times, warehousing, and costs.
mThink. (2000, April 14). Blue Book. Retrieved from What about measuring Supply Chain Performance?: https://mthink.com/what-about-measuring-supply-chain-performance/