Business Monitors: Top Picks for Every Professional Need

Understanding Business Monitors

Choosing the right monitor for a home office setup is crucial for maximizing productivity and ensuring comfort during long hours of work. The right business monitor can significantly enhance your working experience by providing clearer visuals, reducing eye strain, and offering ergonomic features that cater to various professional needs.

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Definition of Business Monitors

Business monitors are specially designed screens intended for professional use. They are built to handle the extensive and often complex demands of a business environment, offering features that support detailed work.

Differentiating Features of Business Monitors Compared to Regular Consumer Monitors

Unlike regular consumer monitors, business monitors often include higher resolution displays, advanced connectivity options, better color accuracy, and ergonomic adjustments such as tilting, swiveling, and height adjustments. These features are tailored to improve the user's productivity and comfort.

Importance of Business Monitors for Work Efficiency

Business monitors play a vital role in enhancing work efficiency. High-resolution displays make it easier to handle tasks that require attention to detail, such as graphic design and data analysis. Ergonomic features help reduce physical discomfort, allowing users to maintain focus for longer periods, thereby boosting overall productivity.

Factors to Consider When Choosing a Business Monitor

Consider the important categories when purchasing a business monitor:

1.  Display Size and Resolution: When selecting a business monitor, both display size and resolution are crucial components that can significantly influence productivity. Larger screens provide more workspace, allowing you to view multiple windows and applications simultaneously. High-resolution displays ensure sharper images and text, reducing the need for zooming and scrolling. This combination can lead to a more efficient workflow, especially for tasks that require detailed visuals, such as graphic design, spreadsheet management, and multi-window research.

2.  Panel Type: Understanding the differences between TN, IPS, and VA panels is essential when choosing a business monitor.

• TN (Twisted Nematic) Panels: Known for their fast response times and affordability, TN panels are often preferred for tasks that do not require top-tier color accuracy or wide viewing angles.
• IPS (In-Plane Switching) Panels: These panels offer superior color accuracy and wider viewing angles, making them ideal for creative work such as photo and video editing where true-to-life color reproduction is critical.
• VA (Vertical Alignment) Panels: VA panels provide better contrast ratios and deeper blacks, making them suitable for environments where high contrast is important, though they may have slower response times compared to TN panels.

3.  Refresh Rate and Response Time: Refresh rate and response time are important factors that affect the overall user experience.

• Refresh Rate: Measured in hertz (Hz), the refresh rate indicates how many times per second the screen refreshes its image. Higher refresh rates, like 120Hz or 144Hz, result in smoother motion and are particularly beneficial for tasks that involve rapid screen updates, such as video editing or trading.
• Response Time: This measures how quickly a pixel can change from one color to another, typically noted in milliseconds (ms). Lower response times reduce motion blur and ghosting, enhancing clarity during fast-moving visuals, which can be advantageous for video conferencing and real-time data monitoring.

4.  Connectivity Options: Having a range of connectivity options is important for ensuring compatibility with various devices and enhancing the flexibility of your workspace. Key connectivity features to look for include:

• HDMI: Commonly used and supports both video and audio signals.
• DisplayPort: Supports high resolutions and refresh rates, ideal for connecting to advanced graphics cards.
• USB-C: Offers the convenience of power delivery and data transfer through a single cable, simplifying connections to laptops and other peripherals.
• Other Ports: Additional ports like USB hubs, VGA, and audio jacks can also contribute to a more versatile and functional setup.

5.  Ergonomics: Ergonomic features play a key role in promoting a comfortable and healthy workspace. Adjustable stands that offer tilt, swivel, and pivot functions allow users to customize the monitor's position for optimal viewing angles, reducing strain on the neck and eyes. Height adjustment capabilities help align the monitor to eye level, promoting better posture and reducing the likelihood of musculoskeletal discomfort during long periods of work. Ergonomically designed monitors contribute not only to user comfort but also to sustained productivity.

Top Features to Look for in a Home Office Monitor

When working from home during the day or after work hours in the evenings, you want a quality monitor that takes care of your eyes.  Let&#;s look at some important features.

5 important features to consider when purchasing a home office monitor:

• Adjustable stand
• Blue light filtering
• Anti-glare coating
• USB-C connectivity
• Built in speakers

Let&#;s review these features in greater detail.

• Adjustable Stand: Having a monitor with an adjustable stand is crucial for ergonomic comfort. Adjustable stands allow you to customize the monitor&#;s height, tilt, swivel, and rotation. This flexibility helps you to set the monitor at eye level, reducing strain on the neck and eyes. Ergonomic adjustments help in maintaining a proper posture, which is essential for long hours of work.
• Blue Light Filter: Monitors with a blue light filter are important for reducing eye strain during extended periods of work. Blue light filters decrease the amount of blue light emitted from the screen, which can cause eye fatigue and disrupt sleep patterns.
• Anti-Glare Coating: An anti-glare coating on a monitor helps to minimize reflections and glare, which can distort the screen's visibility. This feature ensures that the monitor provides clear imagery even in brightly lit environments. By reducing glare, it helps to lessen eye strain and allows you to work more comfortably and efficiently, regardless of your lighting conditions.
• USB-C Connectivity: USB-C connectivity is a highly convenient feature for home office monitors. This single cable solution offers the benefit of power, data, and video transmission through one connection. It simplifies the setup process and reduces cable clutter on your desk. USB-C can also support fast charging for connected devices, making it an ideal choice for a streamlined and efficient workspace.
• Built-in Speakers: Monitors with built-in speakers provide added convenience by integrating audio output into the display. This feature negates the need for additional external speakers, saving desk space and reducing cable clutter.

Tips for Optimizing Your Home Office Monitor Setup

So often we get a monitor that looks great, but we forget the other items that can make it feel great to the body and eyes, declutter the desk, and last a long time.

5 Tips for optimizing your home office monitor setup:

• Positioning: Position your monitor with the top of the screen at or slightly below eye level and about an arm&#;s length away. This helps prevent eye and neck strain, promoting a natural posture and reducing the risk of discomfort or injury.
• Calibrating Colors: Use built-in calibration tools or software to adjust your monitor's color settings. Modify brightness, contrast, and color levels according to your workspace lighting to ensure accurate color representation, which is crucial for tasks requiring color precision.
• Cable Management: Keep your workspace clutter-free by organizing cables with clips, ties, or organizers. Proper cable management not only enhances the aesthetic of your desk but also reduces the risk of tripping over loose cables or damaging them.
• Screen Cleaning: Maintain a clear and smudge-free display by regularly cleaning your monitor with a soft, lint-free cloth and a gentle cleaning solution designed for screens. This practice ensures unobstructed views and preserves the quality of your monitor.
• Screen Protection: Utilize screen protectors to prevent scratches and other potential damage. Screen protectors are especially useful for touchscreen monitors or if the screen is exposed to hazards, thus extending the lifespan and preserving display quality.

Best Business Monitors for Home Offices

Lenovo has some excellent options for your home office. And with Lenovo you don&#;t just get a monitor &#; you can relax knowing you have one of the best!

Lenovo ThinkVision P Series

The ThinkVision P Series monitors are built to deliver exceptional visual clarity with high resolution displays, commonly featuring UHD (4K) resolution. This ensures sharp, detailed images and text, which is particularly beneficial for tasks that require precision, such as graphic design, video editing, and data analysis.

6 Features of the Lenovo ThinkVision P Series:

• Exceptional Visual Clarity: High resolution displays, commonly UHD (4K), for sharp, detailed images and text.
• Color Accuracy: Pre-calibrated monitors offering true-to-life color reproduction.
• Ergonomic Design: Adjustable stands allow for tilt, swivel, pivot, and height adjustments.
• Connectivity Options: HDMI, DisplayPort, and USB-C for easy connection of multiple devices.
• Built-in Features: Some models feature built-in speakers and a blue light filter.
• Energy Efficiency: Low power consumption and eco-friendly certifications.

Lenovo ThinkVision T Series

The ThinkVision T Series is designed to cater to a broad audience with different professional needs. These monitors typically feature high resolution and good color accuracy, making them ideal for tasks that require detailed visuals and clear imagery. The T Series is known for its durability and functionality, offering a dependable solution for everyday business operations.

5 Features of the Lenovo ThinkVision T Series:

• High Resolution: Full HD (p) resolution for clear and crisp visuals.
• Ergonomic Adjustments: Adjustable stands providing pivot, swivel, tilt, and height adjustments.
• Multiple Connectivity Options: HDMI, DisplayPort, VGA, and USB ports for device compatibility.
• Built-in Features: Some models include built-in speakers and blue light filters.
• Eco-Friendly Design: Energy-efficient with sustainability certifications.

Lenovo ThinkVision S Series

The S Series focuses on providing essential functionalities and good display quality to handle everyday business tasks efficiently. It combines practical design with ease of use, making it a suitable choice for users looking for straightforward and effective solutions.

5 Features of the Lenovo ThinkVision S Series:

• High-Quality Display: Full HD (p) resolution for clear and detailed visuals.
• Simple Ergonomics: Basic ergonomic features such as tilt adjustment.
• Essential Connectivity: HDMI, VGA, and sometimes DisplayPort for necessary device support.
• Cost-Effective Solution: Budget-friendly option without compromising on quality.
• Energy Efficient: Low power consumption and environmentally friendly certifications.

Invest In a Quality Monitor for Enhanced Productivity and Comfort During Work

Choosing the right business monitor for a home office setup is essential for maximizing productivity and maintaining comfort throughout long working hours. Investing in a quality monitor that incorporates these factors and features can lead to a more efficient and comfortable workspace. It enables you to maintain focus, reduce physical strain, and ultimately boost your overall productivity. By making an informed decision, you can create a home office environment that supports your professional endeavors and promotes better health and well-being with Lenovo.

insightsoftware is the most comprehensive provider of solutions for the Office of the CFO. We turn information into insights, empowering business leaders to strategically drive their organization.

What Is A Manufacturing KPI?

What is a KPI? A manufacturing Key Performance Indicator (KPI) or metric is a well defined and quantifiable measure that the manufacturing industry uses to gauge its performance over time. Manufacturing companies specifically use KPIs to monitor, analyze, and optimize operations, often comparing their efficiencies to those of competitors in the same sector.

This post will take you through the 40 top manufacturing KPIs and metrics to use in your reporting, how they are calculated, and how you can streamline your reporting process using manufacturing industry reporting software. Get an in-depth experience by utilizing our free interactive manufacturing KPI dashboard pre-built with some of the manufacturing KPIs we will discuss in this post:

Free Manufacturing KPI Dashboard Template

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Why Your Company Should Be Using Manufacturing Specific KPIs to Stay Competitive

The manufacturing industry represents more than 10 percent of the US economy, and more than 15 percent of the global GDP. The only way to stay ahead in this fiercely competitive industry is through the implementation of manufacturing KPIs and metrics.

Everyone strives to increase the top line of a business, trying to gain more market share in an attempt to increase profits. While this is important, what if you could grow your bottom line without having to take on expansion risks? This is where KPIs for the manufacturing industry come into play.

The Fundamental Manufacturing KPIs and Metrics That You Should Be Using in

When your company is just starting to implement KPIs, the whole concept can seem fairly daunting. Rest assured, it isn&#;t as bad as you think. Everything can be broken down into smaller, more digestible morsels of information. In this section, we will go over 10 of the basic examples of KPIs in manufacturing that your company should consider using:

1. Throughput

   &#; This is probably one of the most fundamental KPIs for the manufacturing industry while also arguably one of the most important. The Throughput KPI measures the production capabilities of a machine, line, or plant; also known as how much they can produce over a specified time period. Throughput = # of Units Produced / Time (hour or day)

2. Cycle Time

   &#; The cycle time KPI is very simple in nature, but that doesn&#;t mean it can&#;t be manipulated to be a very powerful tool. In the manufacturing industry, cycle time is the average amount of time it takes to produce a product. Simple, right? Maybe not as simple as you think. The cycle time metric can be used to measure the time it takes to manufacture a completed product, each individual component of the final product, or even go as far as to include delivery to the end user. Thus, cycle time can be used to analyse overall efficiency of a manufacturing process on the macro scale, as well as determine inefficiencies on a micro scale. Cycle time = Process End Time &#; Process Start Time

3. Demand Forecasting

   &#; This manufacturing metric is used by companies to estimate the amount of raw materials they will require to meet future customer demand. This metric can be a little bit trickier for companies to fully utilize, as it is highly dependent on uncontrollable external factors. The basic formula is as follows: Projected Customer Demand = Raw Materials * Production Rate

4. Inventory Turns

   &#; This is a measure of how many times inventory is sold over a specific time period and helps indicate resource effectiveness and optimal inventory metric performance. Low ratio numbers indicate poor sales and excessive inventory, while high ratio numbers represent strong sales or insufficient inventory. Inventory Turns = Cost of Goods Sold / Avg. Inventory

5. Production Attainment

   &#; This production performance metric measures production levels over a specific time period and calculates what percentage of the time a target production level is achieved. Production Attainment = # of Periods Production Target Met / Total Time Periods

6. Cash to Cash Cycle Time

   &#; This is a time-based manufacturing KPI metric. It measures the amount of time it takes from an initial cash outlay for raw materials, inventory, or a manufacturing plant until the company receives cash from its customers for its products. This KPI is typically measured in days. Cash to Cash Cycle Time = Inventory Sale Date &#; Inventory Purchase Date

7. Avoided Cost

   &#; This doesn&#;t mean you can just avoid paying bills and keep all the profits. The avoided cost manufacturing metric is an estimate of how much money you saved by spending money. Seems strange, right? The most common example is how much money is spent on machine maintenance vs. repair cost if a machine were to break down, plus the lost production value associated with the repair downtime. Avoided Cost = Assumed Repair Cost + Production Losses &#; Preventative Maintenance Cost

8. Changeover Time

   &#; At the most basic level, changeover time represents the amount of time required to switch from one task to another. In manufacturing, it represents the amount of time lost from switching a production line from one product to another. However, it can also represent the amount of time lost during a shift change. Changeover Time = Net Available Time &#; Production  Time

9. Takt Time

   &#; This is a very useful manufacturing KPI when scheduling production orders or deciding whether to take an order from a client. Takt time is the maximum permissible amount of time that can be spent manufacturing a product while still meeting a client&#;s deadline. For those who are curious, Takt stands for &#;taktzeit,&#; a German word meaning &#;cycle time.&#; While very similar in nature, this is not to be confused with the cycle time KPI. Takt Time = Net Available Time / Customer&#;s Daily Demand

10. Return on Assets (ROA)

    &#; You might be thinking, this seems like it has less to do with manufacturing and more to do with finance. That is because it does. However, financial metrics are just as important as manufacturing metrics. You can&#;t have a business if you aren&#;t making money. This metric evaluates how well your business is making use of its assets (money). It is the annual net income divided by total assets (fixed assets + working capital). ROA = Net Income / Avg. Total Assets

11. Production Volume

    &#; Measure and document the total output your production processes can achieve. This involves maintaining a detailed log of all items manufactured during a given period.

12. Production Downtime

    &#; Scrutinize maintenance records and procedures to identify areas for improvement. The goal is to minimize the time when production equipment is not operational due to maintenance or failures.

13. Production Costs

    &#; Track all financial expenditures involved in the manufacturing process, including materials, labor, and overhead. This tracking is crucial for budgeting and for identifying potential savings in the production line.

14. Overall Operations Effectiveness (OOE)

    &#; Conduct a comprehensive analysis of your production efficiency, taking into account availability, performance, and quality. By evaluating OOE, you can pinpoint operational strengths and areas that need strategic improvement.

15. Total Effective Equipment Performance (TEEP)

    &#; Monitor the absolute effectiveness of your machinery, considering both its operational and non-operational time. This metric is essential for understanding the full potential of your equipment across all shifts, including downtime for maintenance and other pauses in production.

16. Defect Density

    &#; Record and evaluate the frequency of defects in the products you produce as soon as they occur. By monitoring defect density, you can identify quality issues promptly and implement corrective measures to maintain product integrity.

17. Rate of Return

    &#; Calculate the proportion of products that are returned by customers, which serves as an important indicator of customer satisfaction and product quality. This measure helps in understanding the reasons behind returns and in devising strategies to reduce them.

18. Right First Time

    &#; Gauge the effectiveness of your production process by determining the percentage of products that meet quality standards on the first attempt without the need for rework. This key performance indicator reflects the precision and reliability of your production line.

19. Asset Turnover

    &#; Recognize the efficiency with which your company uses its assets to generate revenue. This ratio compares the value of your sales to the value of your assets, indicating how well your resources are being utilized to produce income.

20. Unit Costs

    &#; Monitor and incrementally adjust the cost associated with producing each unit over time. This involves not only tracking direct expenses like materials and labor but also allocating overhead costs effectively to ensure competitive pricing and profitability.

21. Revenue Per Employee

    &#; Evaluate the average revenue generated by each employee, which provides insight into the overall productivity and efficiency of your workforce. This metric can help you identify the return on investment in human capital and inform workforce planning and development strategies.It is key to note that these are just the basic KPIs used in the manufacturing industry. A company should look beyond these for more insight into their production practices.

    How to Build Useful KPI Dashboards

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    What Makes the Best Manufacturing KPI Metrics?

    There is a plethora of manufacturing KPIs considered to be standard practice throughout the industry. However, that doesn&#;t mean that they should all be applied to any company that produces a product. While many of them are applicable, some are not. There might even be the possibility that a standard manufacturing metric doesn&#;t even exist for what you want to measure. If you are going to create your own production metric, there are the things you should take into consideration.

    • Every KPI needs a clearly defined goal. What are you trying to achieve? Is it even something that can be achieved? What is the time period that you wish to achieve this goal? Be specific and set up parameters that clearly define your goal. This goal needs to be something that can be numerically defined (quantitative not qualitative).
    • It is very important that you are able to objectively measure your progress toward the goal. This means collecting and interpreting data. Which bring us to the next criteria.
    • Data, data, data. There must be a clearly defined data source with a strict procedure of how the data are measured or collected. There should be nothing left to interpretation here.
    • Reporting your data is just as important as collecting it. Different manufacturing KPIs will have different reporting frequencies. Typically, reporting should happen on a weekly or monthly basis, and will often make use of a manufacturing reporting software solution.

    Now that we have gone over some of the basic KPIs for the manufacturing industry and have a grasp of what makes a good KPI, we can dig a bit deeper into the world of manufacturing KPIs and explore lean manufacturing KPIs.

    Lean Manufacturing KPIs

    Lean manufacturing is a practice of Japanese origin (name drop: Toyota) whereby companies attempt to minimize the amount of &#;waste&#; without sacrificing productivity. &#;Waste&#; in this situation doesn&#;t mean garbage or refuge from the production process. It actually represents any activity that does not add value from a customer&#;s perspective. Listed below are 10 examples of lean manufacturing KPIs:

22. Machine Downtime Rate

    &#; While this is commonly used as a manufacturing metric to give a general snapshot of how operation is going, it doesn&#;t paint a full picture. Machine downtime is a combination of both scheduled downtime and unscheduled downtime. Machine Downtime Rate = Downtime Hours / (Downtime Hours + Operational Hours)

23. Percentage Planned Maintenance

    &#; This production metric is used to analyze the ratio of scheduled maintenance against the unscheduled maintenance. This KPI is useful in identifying when more preventative maintenance is required for certain assets. PPM = (# Planned Maintenance Hours * 100) / # Total Maintenance Hours

24. Downtime to Operating Time

    &#; This manufacturing metric can be used to measure the effectiveness of machinery maintenance and the machine itself. With effective preventative maintenance, the amount of downtime can be reduced, creating a more optimal manufacturing process. Companies aspire to reduce this ratio as much as possible. Downtime to Operating Time = Downtime / Operating Time

25. Capacity Utilization

    &#; This production KPI measures the amount of capacity being utilized as a function of total capacity available. Ideally, companies want this number to be as high as possible, as it indicates they are making better use of their production capabilities and maximizing return on their assets. This metric can also be used by management when deciding whether to take on new orders or quoting lead time, as it gives a snapshot of available resources. Capacity Utilization = Actual Factory Utilization / Total Productive Capacity

26. First Pass Yield

    &#; This is one of the most fundamental production KPIs. It calculates the percentage of products manufactured to specification the first time through the process. This means that they do not require any rework or become scrap. A higher FPY rate is very desirable for any company. First Pass Yield Rate = Quality Units / Total Units Produced

27. Overall Equipment Effectiveness (OEE)

    &#; This key performance indicator is considered the gold standard for measuring manufacturing productivity. The higher your OEE, the more effective your equipment is. A score of 100 percent means that you are manufacturing 100 percent of the time, at 100 percent capacity, at a 100 percent yield (no defective parts). OEE = Availability * Performance * Quality

28. Manufacturing Cost Per Unit

    &#; It is very important that you know the total cost associated with manufacturing a product on a per unit basis. Without it, you wouldn&#;t be able to price a product properly. This KPI takes into account all costs associated with production and divides the cost by the number of units manufactured. Typical costs include materials, overhead, depreciation, labor, etc. Manufacturing Cost Per Unit = Total Manufacturing Cost / # of Units Produced

29. Material Yield Variance

    &#; This lean manufacturing KPI takes the estimated amount of material required for a product and compares it against the amount of material actually used. Material Yield Variance = Actual Material Use / Expected Material Use

30. Maintenance Cost Per Unit

    &#; This production metric is often overlooked as people tend to consider maintenance cost to be an overhead item. However, it is an important lean manufacturing KPI to take into consideration when trying to optimize efficiency. This calculation takes the total cost of maintenance (both preventative and emergency) and divides it by the number of units produced for a specified time period. Maintenance Cost Per Unit = Total Maintenance Cost / # of Units Produced

31. Overtime Rate

    &#; This metric compares the amount of overtime worked by employees to the amount of standard hours. It helps to identify inefficiencies in scheduling and/or staffing. Overtime Rate (Percentage) = (Overtime Hours * 100) / Regular Hours

We have covered 20 different manufacturing KPI examples at this point, as well as what it takes to make your own. Now it is time to look at some data management best practices.

How to Keep Track of Your KPI Data

Quality control and process management are not the most exciting things going on at a manufacturing company, but they are the backbone of the operation. After companies start to implement their newly created KPIs and metrics, they often keep track of the collected data using Excel (hopefully no one is still compiling data using a ledger book). However, there are a couple of things to take into consideration when managing your data:

• Data protection and security are essential. Hackers stealing your KPI data is probably not a huge concern. However, it is critical that your data are backed up and can&#;t be deleted by accident.
• Reduce the amount of duplicate data. Don&#;t keep multiple working copies of the same data. Have one working copy, and one unaltered backup.
• Ensure your KPI data are easily accessible to your team. There is nothing worse than not being able to do your work because you don&#;t have access to information that you need.

All of these concerns can actually be remedied through the use of a reporting solution. Here at insightsoftware, we build industry leading reporting software solutions. Come and see how our KPI dashboards can help your company get ahead of the curve.

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Streamline Your Reporting with Manufacturing Reporting Software

Regardless of whether your manufacturing company is large or small, using a manufacturing dashboard can help with the following reporting processes:

• Managing large data dumps manually is an inefficient process. A manufacturing dashboard is able to automatically process collected data and turn the data into analytics and insights.
• Consolidating the data into a central location can take a long time. Manufacturing reporting software allows companies to input all of their information into a single centralized location.
• Interface with other services. Manufacturing reporting solutions have developed over time to become powerful tools. Any good business intelligence software will be able to interface with your favorite ERP software.
• Instant updates at your fingertips. Gone are the days of asking someone to bring you weekly data updates from different segments of the company. Everything you need is just one click away. With a centralized database, manufacturing dashboards can immediately generate reports on performance, as well as send you alerts when a KPI starts to underperform.

Having a manufacturing reporting solution is a crucial aspect of operating a company in the industry. Centralized data with real time reporting will give any company the potential edge required to stay ahead of their competitors. However, it is important to remember that KPIs aren&#;t a one-time set-and-forget. They will require updating as your business grows and expands. Sometimes there are metrics that you don&#;t think of when someone says manufacturing.

More Examples of KPIs Used in Manufacturing

Here are 10 additional manufacturing KPI metrics that might take you by surprise:

1. On-Time Delivery

   &#; This is less of a production performance metric, but a very important KPI in the manufacturing sector nonetheless. You can have the most efficient production line in the world, but if you can&#;t deliver on time, clients are not going to want to work with you, thus affecting logistics KPIs. This metric measures the percentage of products delivered on time to clients. On-Time Delivery = (# Units Delivered On-Time * 100) / # Units Delivered

2. Health and Safety Incidence Rate

   &#; In an ideal world, this manufacturing metric would not even exist because it would be zero. Unfortunately, the reality of the matter is that workplace accidents and near misses do occur. This metric monitors the number of incidents or near misses over a given period of time (normally per annum). Health and Safety Incidence Rate = (Number of Incidences * 200,000) / # hours worked by all employees

3. Employee Turnover

   &#; While this metric isn&#;t manufacturing specific, it is as equally important as the other KPIs in this list. While employee turnover typically has a negative connotation associated with it, not all turnover is bad. Some turnover may be required to remove underperformers and replace them with higher performers. However, having too high of a turnover can lead to lower moral. Employee Turnover Rate (%) = (Employees who left * 100) / Avg. # of Employees

4. Non-Compliance Events / Year

   &#; Every country has regulatory compliance rules that manufacturers must follow when producing their products, whether it be safety, emissions, or something else. Not only is it important to record the number of times a non-compliance event occurred, it is also good practice to document the reason why it occurred, and what the resolution was. Non-Compliance Events = # of Non-Compliance Events / Specified Period of Time (Annually)

5. Customer Returns (Rejects)

   &#; This is a classic example of a KPI used in manufacturing, and it is still used to this day for a reason. Keeping track of returns is imperative. This metric calculates the percentage of products that customers return because they have received a bad product. Needless to say, a company should strive for the lowest percent possible. Customer Return Rate = (# of Products Returned * 100) / Total # of Products Shipped

6. Total Manufacturing Cost Per Unit Excluding Materials

   &#; This is a performance metric that attempts to pin down the fixed costs associated with operating a factory or production line. These are arguably the costs that companies are able to control. TMC Per Unit Ex Materials = TMC Per Unit &#; Material Cost Per Unit

7. Manufacturing Cost as a Percentage of Revenue

   &#; This manufacturing KPI will help bring insight into how much your company is spending on manufacturing with respect to total revenue. This is very useful data to compare against competitors in the same sector. Manufacturing Cost as a Percentage of Revenue = Total Manufacturing Cost / Total Revenue

8. Energy Cost Per Unit

   &#; This is a fairly nitty gritty manufacturing KPI that a lot of companies tend to overlook. It only really comes into play when companies are fine-tuning their operations and trying to become leaner. This KPI takes to total cost of energy spent over a period of time and divides it by the number of units produced in that time frame. Energy Cost Per Unit = Total Energy Cost / # of Units Produced

9. Work-in-Process

   &#; This manufacturing KPI metric measures the value of partially completed products. It helps manufacturing companies understand how much of their working capital is tied up in incomplete products, and can help identify supply chain management issues. Ending Work-in-Process = Beginning WIP + Manufacturing Costs &#; Cost of Goods Manufactured

10. Scrap Rate

    &#; This is a fairly straightforward manufacturing KPI. It keeps track of the number of products that are deemed scrap due to manufacturing defects that can&#;t be reworked. It gives companies insight into the ratio of products deemed scrap in a production run, helping identify an inefficient process. Scrap Rate = # of Scrap Units / Total # of Units

Congratulations! You have now learned the top 40 manufacturing KPIs to use in your reporting, how to create your own KPIs, the basics of KPI database management, and how you can streamline your reporting processes with a manufacturing reporting solution like the solutions we offer at insightsoftware. This might seem like a lot of information to digest all at once. If you have any questions or are interested in speaking with a reporting & KPI expert, contact us here.

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