M.com Semester 4 business management supply chain management Important | Business Management Supply Chain Management

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 M.COM SEMESTER - IV (CBCS)

BUSINESS STUDIES (MANAGEMENT)

SUPPLY CHAIN MANAGEMENT LOGISTICS

M.com Semester 4 business management supply chain management Important



Q.9 Global Perspective Goals And Functions Of Performance Measurement.

ANS:

Performance measurement in global supply chains aims to support problem-solving and decision-making processes by providing empirical information about supply chain processes. It simplifies and refines the communication of information about supply chain performance between people who are interested in the supply chain's value creation because it can make its processes and effects visible from various perspectives and provides the terms and results of measuring. As a result, it provides a foundation for assessing the consequences of supply chain decisions and their premises. It supports global supply chain planning, coordination, organisation, and control by constructing a transparent picture using relevant performance dimensions. The following functions can be distinguished in greater detail.

a. Provision of information and transparency

b. Support of monitoring and attention directing

c. Problem recognition and early warning

d. Analysis of cause-and-effect relationships

e. Support of control activities

f. Support of research and development activities

g. The basis is for the performance evaluation of managers and employees.

2. Instrumental Framework:

This fundamental concept can also be applied to performance measurement in the global supply chain, as demonstrated by Kaplan and Norton's balanced scorecard concept. The balanced scorecard is balanced in the manner that it combines multiple perspectives, dimensions, and measures into a single tool. Strategic and operational aspects can be balanced, as internal and external, financial and non-financial, cooperative and competitive, and integrated and non-integrated ones. The balanced scorecard approach to designing a performance measurement system corresponds to the critical success factor approach in essence.

3. Usage-Related Aspects:

The ability to use performance measures for management purposes is largely dependent on the user's thorough understanding of the process for which the measurement system must be designed. The measurement system can be used to operationalize and control critical success factors in a well-known process, or it can be used to investigate new, poorly understood problems. SIMONS distinguishes between a diagnostic and interactive use of performance measurement systems.

a. Diagnostic Use of Measures:

Diagnostic control systems are formal information systems that allow managers and employees to ensure that the goals that have been translated from strategy into concrete performance objectives are met. Diagnostic use of performance measurement systems in global supply chains is used to monitor the efficiency and effectiveness of supply chain processes by comparing actual values to defined standards and taking standardized corrective action in the event of deviations from the predetermined course. This type of use, however, requires a thorough understanding of the process as well as the relevant data, alternatives, and cause-and-effect relationships of the problem. If one of these parameters is unclear or missing, using rigid, predetermined rules and programmes to answer a deviation is deceptive. In such cases, management lacks the necessary knowledge about how to improve performance and questions whether the previously defined measures and objectives can still be used. The mode of use must then be changed from exploitative diagnostic use to more explorative interactive use.

b. Interactive Use of Measures:

In contrast to diagnostic control systems, interactive information systems are those formal information systems used by managers and employees to deal with new, unique, and complex situations. The interactive use of performance measurement systems in global supply chains allows for an examination of the status quo and its underlying assumptions. Furthermore, new possible developments and action plans utilizing the measures to engage in a creative dialogue between managers and employees must be investigated. This interactive use does not necessitate the addition of new performance metrics. Rather, the system should be highly flexible, allowing users to question the situation's data, premises, and action plans, as well as create new scenarios about possible cause-and-effect relationships and new courses of action. Employees' active participation can not only enrich the required information base but also improve their motivation.

 

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