Insights
– better your business

Insight

The matrix and the future of NZ manufacturing
Founder and Director of LMAC Consulting, Nigel Reaney is passionate about developing stronger, more profitable business organisations. Here he discusses what Industry 4.0 means for New Zealand’s SMEs.

Insight

Why Strategic Plans Fail
Everyone understands that to be successful, a company needs a good strategy, right? We can all think of trendy companies that have disrupted the market through having a great ‘Strategy’, Apple, Uber, Airbnb, I’m sure you can think of lots more.

Insight

The importance of a Core Purpose in Business
Core Purpose, not to be confused with company Vision (which could be considered the “where”), a company’s Core Purpose is more about the “why”. In fact, it could be considered the...

Insight

Animal Firm — The business of farming
‘Never work with children or animals’ was the advice of W.C. Fields, an American actor and writer who made a name for himself in the early part of the 20th century. Here at LMAC, we’ve never done consultancy work with kids (although our clients ...

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Complete the questions below to test your data maturity.

Over the next two years, which three of the 14 key performance indicators do you most want to improve on as a business?

Make a note of these before you carry on reading.

The key 14 performance indicator categories:

Productivity

  • Asset & equipment efficiency
  • Inventory efficiency
  • Materials efficiency
  • Utilities efficiency
  • Workforce efficiency

Flexibility

  • Planning & scheduling effectiveness
  • Production flexibility
  • Workforce flexibility

Speed

  • Time to market
  • Time to delivery

Quality

  • Product quality
  • Process quality
  • Safety
  • Security

Now ask yourself – what is your current performance against these three KPIs? Can you tell me how you performed in the last hour, yesterday or last week?

If you can’t answer this question for all three because you aren’t measuring the data, then the next step is clear. Figure out what data you need to enable you to measure it, and decide how you are going to collect that data.

If you can answer it historically; last week or last month – ask yourself, is this retrospective view sufficient for me to really make improvements?

If you can answer it for all three up to the minute, then it is quite possible that shopfloor intelligence isn’t a number one priority for you. Look out for parts 2 and 3 of this blog series for some more insights into how you can make the data work for you.