Issue link: https://iconnect007.uberflip.com/i/1521713
34 SMT007 MAGAZINE I JUNE 2024 Owners: • A strong and growing business that is able to generate 8%+ pre-tax profit • Long-term stability and growth to $30,000,000+ in annual sales • Mutually beneficial relationships with customers, employees, and suppliers Customers: • Exceptional service, quality, and value • Advanced manufacturing capabilities • Open communication, respect, and trust Employees: • Good pay and good benefits • Opportunities to grow and advance • Open communications, respect, and trust Suppliers: • Strong customer that can provide growth • Open communications, respect, and trust Community: • Strong business that provides good jobs • Community involvement and support We condensed the lists of stakeholder objec- tives to the following: 1. Build and maintain a financially strong and growing business that generates 8% or better pre-tax profits. 2. Provide customers with exceptional service, quality, and value of advanced electronic manufacturing services. 3. Provide good pay and benefits for employ- ees with opportunities to grow and advance. 4. Build long-term mutually beneficial relationships with customers, employees, and suppliers. 5. Be involved in and provide support to our community and our industry. e first two objectives on the list were criti- cal to meeting all the objectives, so we focused on them. We considered several potential KPIs for these key objectives and chose these KPIs for our company-wide Strategic Management Dashboard: • Pre-tax profit • Sales • Backlog • Inventory • Sales per employee • Material cost savings • Internal first pass yield • Customer quality Other KPIs are very important to moni- tor for our business. e more detailed KPIs are included in the dashboards for individual departments. Figures 7 and 8 show that in our design, we used a combination of bar and line charts. e light blue bars represent the previous year, and the dark blue line represents the current year. Where we have a goal or a forecast, we use a gold line to represent that goal. We have also included summary numbers in some of our labels. Having all this information on one page lets you see some interesting numbers and interac- tions: • Example 1: May loss, May drop in sales per employee, May decline in sales, May mate- rial cost savings below the goal line. • Example 2: October profit up, October sales per employee up, October sales at a high level, October material savings above the goal line. • Example 3: Sales up, backlog up and inventory up—leading indicator for future growth. • Example 4: First-pass yield in March to customer quality in April (leading indi- cator); first-pass yield in October to cus- tomer quality in November and December.