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Business performance management (BPM) (also known as corporate performance management (CPM) [2] enterprise performance management (EPM), [3] [4] organizational performance management, or performance management) is a management approach which encompasses a set of processes and analytical tools to ensure that an organization's activities and output are aligned with its goals.
Operations management covers sectors like banking systems, hospitals, companies, working with suppliers, customers, and using technology. Operations is one of the major functions in an organization along with supply chains, marketing, finance and human resources.
Performance measurement. Performance measurement is the process of collecting, analyzing and/or reporting information regarding the performance of an individual, group, organization, system or component. [dubious – discuss][ 1] Definitions of performance measurement tend to be predicated upon an assumption about why the performance is being ...
Benchmarking is the practice of comparing business processes and performance metrics to industry bests and best practices from other companies. Dimensions typically measured are quality, time and cost . Benchmarking is used to measure performance using a specific indicator (cost per unit of measure, productivity per unit of measure, cycle time ...
The Supply Chain Operations Reference ( SCOR) model is a process reference model originally developed and endorsed by the Supply Chain Council, now a part of ASCM, as the cross-industry, standard diagnostic tool for supply chain management. [ 1] The SCOR model describes the business activities associated with satisfying a customer's demand ...
Process-based management is a management approach that views a business as a collection of processes, managed to achieve a desired result. [ 1] Processes are managed and improved by the organisation for the purpose of achieving its vision, mission and core values. A clear correlation between processes and vision supports the company in planning ...
Statistical process control ( SPC) or statistical quality control ( SQC) is the application of statistical methods to monitor and control the quality of a production process. This helps to ensure that the process operates efficiently, producing more specification-conforming products with less waste scrap. SPC can be applied to any process where ...
The process capability is a measurable property of a process to the specification, expressed as a process capability index (e.g., C pk or C pm) or as a process performance index (e.g., P pk or P pm ). The output of this measurement is often illustrated by a histogram and calculations that predict how many parts will be produced out of ...