What is a Key Performance Indicator (KPI)? Explain the importance of developing metrics and KPIs in logistics and supply chain operations. Explain what metrics
*Two Question Assignment*
Write (2) 200-250 words reply to the questions below. APA 6 format, in-text citation, Please provide a copy of all references used. Use at least two (2) scholarly references to substantiate your work.
Assignment Details:
1. What is a Key Performance Indicator (KPI)?
Explain the importance of developing metrics and KPIs in logistics and supply chain operations.
- Explain what metrics indicate and how they can benefit an organization.
Post Recommendation Structure
Paragraph 1
Define key performance indicators (1 to 2 sentences). Provide examples of key performance indicators from your research or personal example (1 to 2 sentences).
Paragraph 2
Define metrics (1 to 2 sentences). Align metrics to KPIs (paragraph 1 definition) and explain the importance of developing metrics (1 to 2 sentences)
Paragraph 3
Refer to the definition of metrics from paragraph 2 and identify what metrics indicate (1 to 2 sentences). Provide an example from your research or personal example of how metrics benefit an organization (1 to 2 sentences)
References
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Question 2. Supply chain strategy includes a long-range plan for the design and ongoing management of all supply chain decisions that define the structure, function, facilities, and priorities of the supply chain. Competitive priorities differentiate companies from their competitors to gain competitive advantage.
- What is a supply chain strategy?
- How does the supply chain strategy support the business strategy?
- How can supply chain professionals utilize a supply chain strategy to gain a competitive advantage?
Post Recommendation:
Paragraph 1
Define supply chain strategy (1 to 2 sentences). Provide an example of a supply chain strategy from your research or a personal example (1 to 2 sentences).
Paragraph 2
Define business strategy (1 to 2 sentences). Align business strategy to supply chain strategy (1 sentence). Provide an example of how the supply chain strategy supports the business strategy (1 to 2 sentences).
Paragraph 3
Define a competitive advantage (1 to 2 sentences). Provide an example of supply chain professionals using a supply chain strategy (i.e. you defined this in paragraph 1) to gain a competitive advantage (1 to 2 sentences)
References
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