Metrics That Matter: Enterprise Performance Management
Lean companies always “run by the numbers”. We need real, relevant, and timely data to:
– understand today’s performance
– take the right actions
– drive improvement throughout the company
– plan the operation
– and make the right decisions.
We also need operational and financial measurements that can be immediately understood and used by everybody in the organization. Yet most companies attempt to make break-through lean change while still using the same old performance measurements and financial reports. These traditional measurements were designed for traditional production. Lean companies need different measurements and financials. They need ” Metrics That Matter”.
Linkage of strategic objectives to the key drivers of value is critical to the successful deployment of strategy. Drivers are those factors that positively or negatively impact a company’s ability to execute its strategy and drive economic value. Drivers form the basis for identifying the key metrics and targets that translate strategy and risk appetite into performance expectations.
A number of studies have shown that companies utilizing a comprehensive set of metrics to track the execution of strategy tend to lead their peer group, both in terms of financial results and their ability to adapt to economic or operational changes.
In this workshop you’ll learn the key concepts through instruction, discussion, simulation, and small-group exercise.
Financial Metrics that matter:
- Accounting for Flow
- Value Stream Accounting
- Accounting Methods shortcomings
- Managing for Value Growth
- Simplification of the accounting system
Operational Metrics Driving Financial Results
- Developing Performance Drivers
- Using Performance Drivers for Financial Results
- Performance drivers in your organization
- Making it work
“In this session you will learn…”
- How to establish lean Metrics that Matter at each level of the organization including the Executive level, value stream level, cell or process level.
- How to use these measurements at each level to drive the company to strategic growth, lean process improvement, and exceptional profitability.
- How to run your business better using a few simple, visual, “metrics that matter,” Financial information that everybody can understand and use. Empowered people making real-time valid improvements and decisions to drive revenue growth, manage costs, and greatly increase profits and cash.
About the Facilitator:
Brian H. Maskell, President of BMA Inc., has more than 30 years’ experience in manufacturing and distribution industry. Over the past twenty years in Mr. Maskell’s consulting practice, He has assisted companies in lean transformation, lean accounting, lean manufacturing and distribution, lean healthcare, lean business management, new approaches to performance measurement, problem solving & decision-making, value pricing, logistics and supply chain. He frequently works with company executive teams to help create truly lean enterprises.
A sought-after speaker, Brian Maskell is the author of eight books including; Practical Lean Accounting (2003,2011), The Lean Business Management System (2007), Making the Numbers Count; the accountant as an agent of change (1996, 2009), Performance Measurement for World Class Manufacturing (1991), and Life’s Little Lean Accounting Instruction Book (2006). Mr. Maskell conducts seminars and workshops for AME and around the world and teaches occasionally at Wharton Business School on such subjects as Lean Accounting, Lean Business Management, Performance Measurement for World Class Manufacturing, Lean Manufacturing, Lean Healthcare, Value Stream Cost/Profit Management, Target Costing, Value Pricing, and Lean Sales & Marketing.
Mr. Maskell has an engineering degree from the University of Sussex, England. He is certified with the Chartered Institute of Management Accountants (CIMA) in London, the American Institute of Certified Public Accountants (AICPA), the Institute of Management Accountants (IMA) and is a Fellow of the American Production and Inventory Control Society (APICS).