Key performance indicators: contemporary challenges to industrial small and medium enterprises

The paper investigates key challenges to the successful management of industrial small and medium enterprises (SMEs) under conditions of globalization and provides a model for successful evaluation and monitoring of SME activities. The proposed model is universal and could be applied by industrial S...

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Autor principal:	Rūta Banelienė
Formato:	article
Lenguaje:	EN
Publicado:	Estonian Academy Publishers 2021
Materias:	key performance indicators sme industry monitoring evaluation. Science Q
Acceso en línea:	https://doaj.org/article/f89e3a6028d2468fb4ad79defeb01da3
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spelling	oai:doaj.org-article:f89e3a6028d2468fb4ad79defeb01da32021-11-17T17:48:21ZKey performance indicators: contemporary challenges to industrial small and medium enterprises1736-60461736-753010.3176/proc.2021.4.05https://doaj.org/article/f89e3a6028d2468fb4ad79defeb01da32021-11-01T00:00:00Zhttps://kirj.ee/wp-content/plugins/kirj/pub/proc-4-2021-399-406_20211101144226.pdfhttps://doaj.org/toc/1736-6046https://doaj.org/toc/1736-7530The paper investigates key challenges to the successful management of industrial small and medium enterprises (SMEs) under conditions of globalization and provides a model for successful evaluation and monitoring of SME activities. The proposed model is universal and could be applied by industrial SMEs with modest effort for developing databases such as product/material, equipment and production, as well as for measuring and monitoring the suggested key performance indicators (KPIs) in nine value chains: 1) inbound logistics 2) operations 3) outbound logistics 4) marketing and sales 5) service 6) human resources management 7) technology development 8) procurement 9) sustainability. The first three value chains serve as a cornerstone of all KPIs for the house of an industrial SME, while marketing and sales, and service value chains are intended to measure a companys success via sales. Procurement KPIs should focus on measuring and monitoring the stock level as continuous flow, which would secure smoothness in all the operations of the company. However, special attention should be paid to human resources management, innovations and sustainability by setting and monitoring KPIs within the whole timeframe the present, past and future.Rūta BanelienėEstonian Academy Publishersarticlekey performance indicatorssmeindustrymonitoringevaluation.ScienceQENProceedings of the Estonian Academy of Sciences, Vol 70, Iss 4, Pp 399-406 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	key performance indicators sme industry monitoring evaluation. Science Q
spellingShingle	key performance indicators sme industry monitoring evaluation. Science Q Rūta Banelienė Key performance indicators: contemporary challenges to industrial small and medium enterprises
description	The paper investigates key challenges to the successful management of industrial small and medium enterprises (SMEs) under conditions of globalization and provides a model for successful evaluation and monitoring of SME activities. The proposed model is universal and could be applied by industrial SMEs with modest effort for developing databases such as product/material, equipment and production, as well as for measuring and monitoring the suggested key performance indicators (KPIs) in nine value chains: 1) inbound logistics 2) operations 3) outbound logistics 4) marketing and sales 5) service 6) human resources management 7) technology development 8) procurement 9) sustainability. The first three value chains serve as a cornerstone of all KPIs for the house of an industrial SME, while marketing and sales, and service value chains are intended to measure a companys success via sales. Procurement KPIs should focus on measuring and monitoring the stock level as continuous flow, which would secure smoothness in all the operations of the company. However, special attention should be paid to human resources management, innovations and sustainability by setting and monitoring KPIs within the whole timeframe the present, past and future.
format	article
author	Rūta Banelienė
author_facet	Rūta Banelienė
author_sort	Rūta Banelienė
title	Key performance indicators: contemporary challenges to industrial small and medium enterprises
title_short	Key performance indicators: contemporary challenges to industrial small and medium enterprises
title_full	Key performance indicators: contemporary challenges to industrial small and medium enterprises
title_fullStr	Key performance indicators: contemporary challenges to industrial small and medium enterprises
title_full_unstemmed	Key performance indicators: contemporary challenges to industrial small and medium enterprises
title_sort	key performance indicators: contemporary challenges to industrial small and medium enterprises
publisher	Estonian Academy Publishers
publishDate	2021
url	https://doaj.org/article/f89e3a6028d2468fb4ad79defeb01da3
work_keys_str_mv	AT rutabaneliene keyperformanceindicatorscontemporarychallengestoindustrialsmallandmediumenterprises
_version_	1718425391518973952

Key performance indicators: contemporary challenges to industrial small and medium enterprises

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