The Top 7 Business Metrics used in Lean Manufacturing.

In this article, you will learn the most common business metrics used in lean manufacturing and Lean six sigma.

Business Metrics Definition

Standards of measurement by which efficiency, performance, progress, or quality of a plan, process, or product can be assessed.

A business metric is a quantifiable measure businesses use to track, monitor, and assess the success or failure of various business processes.

The main goal of measuring business metrics is to track cost management, but the overall point of employing them is to communicate a company’s progression toward certain long- and short-term objectives.

7 Business Metrics used in Lean Manufacturing.

Typically, the following business metrics are considered when implementing lean manufacturing:

1. Work in process,
2. Queues,
3. Blockers,
4. Lead times,
5. Cycle times,
6. Throughput,
7. Cumulative Flow diagrams CFD.

Additional business metrics exist and can be considered during the implementation of lean manufacturing. More business metrics used in lean manufacturing are described in the Glossary of Terms.

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REFERENCES: Business Metrics used in Lean Manufacturing.

httpss://en.wikipedia.org/wiki/Lean_Six_Sigma

httpss://www.greycampus.com/blog/quality-management/a-brief-introduction-to-lean-and-six-sigma-and-lean-six-sigma