Scientific Research and Essays

  • Abbreviation: Sci. Res. Essays
  • Language: English
  • ISSN: 1992-2248
  • DOI: 10.5897/SRE
  • Start Year: 2006
  • Published Articles: 2745

Full Length Research Paper

Efficiency of applying a model for measuring key performance indicators in an industrial enterprise

Željko Đurić1* and Rado Maksimović2
1Joint-stock Company Boksit, Milići, Milići, Bosnia and Herzegovina. 2Faculty of Technical Sciences, University of Novi Sad, Novi Sad, Serbia.
Email: [email protected]

  •  Accepted: 05 January 2013
  •  Published: 11 April 2013

Abstract

The paper presents the results of applying the developed models for measuring process key performance indicators (KPIs) in a complex industrial company, including analysis of the effectiveness of its implementation in the analyzed field. The aim of this study was to demonstrate that the general approach and principles of organization and management of an industrial enterprise - based on the integration of its functions are universally valid and that it is possible to establish a standardized system of criteria - parameters (performances) of the process, which in required and sufficient measure reflect the effectiveness of the overall success of the industrial enterprise. On this basis a model of measuring KPIs in the industrial enterprises is developed or the system of parameters of process quality in industrial enterprises which have obtained the conditions for the development of management models for their supervision (monitoring) by the management. Research results indicate that the application of a particular model for the measurement of KPIs in the industrial enterprise led to a higher level of effectiveness of the industrial enterprise as a whole.

 

Key words: Industrial company, process improvement, key performance indicators (KPIs).