Key Performance Indicators Selection through an Analytic Network Process Model for Tooling and Die Industry

Abstract

In the last few decades, the fast technological development has caused high competitiveness among companies, encouraging a pursuit for strategies that allow them to gain competitive advantage, such as the monitoring of performance by using key performance indicators (KPIs). However, its selection process is complex since there are several KPIs available to evaluate performance and different relationships between them. To overcome this challenge, the use of a multiple criteria decision-making model (MCDM) was proposed, namely the analytic network process (ANP) through which a reduced number of them are prioritized. To identify which KPIs are suitable for the press cast and die manufacturing industry, a literature review was made, and 58 unique KPIs were identified. Thus, to validate the proposed methodology, a case study was carried out in an automotive press molding industry. With the implementation of the proposed ANP model it was possible to identify 9 KPIs that ensure the correct molding process monitoring, while being aligned with the Balanced Scorecard criteria. The results show that the proposed model is suitable for selecting KPIs for the molding industry.

Utilize Fuzzy Delphi and Analytic Network Process to Construct Consumer Product Design Evaluation Indicators

“…In this study, the Saaty scale was adopted and the pairwise comparisons [28,45] were used to find out the importance of evaluating consumer product design indicators based on consumer needs. This questionnaire is designed to divide the evaluation scale into five levels, namely equally important (1), slightly important (3), quite important (5), very important (7), and absolutely important (9).…”

Key performance areas and indicators perceived to be critical for Information Science roles in the Fourth Industrial Revolution

“…KPIs should be presented in an easy-to-understand format to facilitate their recognition, comprehension and feasibility and improve their utilisation, fulfilment, and relevance (Zarzycka & Krasodomska 2021;. KPIs are tools that need to be objectiveoriented, laden with meaning, easy to understand and be utilised to compare different organisations (Rodrigues, Godina & da Cruz 2021).…”

“…KPIs are ideally useful for performance analysis (Ho et al 2021). Rodrigues et al (2021) argue that KPIs are, without a doubt, the critical measurement and control instruments within every organisational process. KPIs can be used to measure both processes and outcomes (Ho et al 2021).…”

“…With technology increasing the competitiveness in various industries, organisations have had to develop strategies to help them stay ahead of competitors or even survive. These strategies include observing performance through the adoption of KPIs (Rodrigues et al 2021). KPIs can measure, for example, the impact of a particular strategy (Zarzycka & Krasodomska 2021).…”

“…KPIs can measure, for example, the impact of a particular strategy (Zarzycka & Krasodomska 2021). As such, KPIs must resonate with a business's strategy and assist in successfully executing the organisational strategy (Rodrigues et al 2021). KPIs are utilised to determine whether key processes are performed optimally, for example, efficiently without resource wastage (Rodrigues et al 2021).…”