Key performance indicators (KPIs) analyze and manage a company’s business processes and compare its performance with that of its competitors. The German Engineering Federation (VDMA) has set up a comprehensive system with more than 1,500 KPIs. Using them, the federation surveys its member companies from time to time on the market situation. The benefit for companies participating in such surveys: they can compare themselves directly with the competition.
Until recently, VDMA member companies had to gather all the data for the surveys manually using time-consuming procedures. Steeb’s key performance indicator cockpit will significantly reduce the amount of work involved – probably by 60 to 80 percent, according to Alexander Walter, CIO of the Germany-based company Michael Weinig and the Steeb cockpit’s first pilot customer.
Using the Steeb solution, this company can now easily evaluate the VDMA KPIs from its SAP ERP application. “We want to provide our management with usable and differentiated KPIs directly from the IT system,” Walter explains. “This enables us to find out where we still have potential for improvement and where we can develop our strengths further.” Michael Weinig is the world’s largest manufacturer of machines for solid wood processing.