Step 1: Collect and Review Primary Information
February 12, 2025
Introduction In the digital age, information technology plays an important role in the success of an organization. Technology provides edge in this globalized world. Companies are facing competition not only from local companies but from international companies as well. In such a scenario, it is important that company invest in technology which is aligned with […]
Indian Economic Growth: Hype versus Reality Much has been written about how India is on the cusp of achieving double digit economic growth and that the long awaited Acche Din or Good Days are to be realized. Indeed, this was the campaign promise of the present Prime Minister, Narendra Modi, who made the state of […]
International Trade is facilitated and controlled by Countries with the help of Foreign Policy, Export Import Regulations, Schedule and Tariff of Import and Export Duties as well as Trade Laws and Regulations. Customs Department is the Federal Government Agency that is invested with Authority to conduct Customs Valuation and collect Import as well as Export […]
Not long ago, purchase function was seen to be a desk job, monotonous paper work, dull and passive and more of an administrative function. The purchase managements were the fall guys whose only aim was to keep feeding shop floor and avoiding stock out situation. Today the situation has changed totally. Procurement function is considered […]
In the context of growing market competition, organizations are focusing more on closer partnership across supply chain. Increasing efficiency in sales and distribution process facilitates an organization to maintain its competitive edge. Best practice processes, embedded in an ERP package, are an enabler in this direction. The important components of sales modules: Sales inquiry handling. […]
Metrics are numbers that tell you important information about a process under question. They tell you accurate measurements about how the process is functioning and provide base for you to suggest improvements.
It is said that only when one can express their understanding in terms of numbers is the understanding satisfactory and meaningful.
Usually measuring results with one metric is not a good enough strategy. A combination of metrics is used to measure the effectiveness of the process.
In the end it is only an understanding of both types of metrics and what they suggest can meaningful decisions be made about the process is question.
Here are some important functions that metrics fulfil in an organization.
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