Chapter 8 KPIs, the Balance Scorecard, and Basic Financial Models
Introduction
W. Edwards Deming wrote (The New Economics) that “it is wrong to say that if you can’t measure it, you can’t manage it, a costly myth.” Part of this sentence has been paraphrased numerous times, and although the meaning has been somewhat misinterpreted, it is correctly attributed to the writer. Edwards Deming is right of course, the paraphrase cannot be ubiquitously applied, the principle is fallible. However, based on many years of running complex operations it is a statement of undeniable fact to say that in order to optimise operational output and maximise productivity in any fast-paced logistics operation (irrespective of the service ...
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