help me out with those questions #1 Do you think there is a relationship between

Question

help me out with those questions

#1 Do you think there is a relationship between performance measurement and a firm’s competitiveness and profitability? Explain   

#2 What do customers have to do with good performance measures?  

#3 How should performance measures be viewed from a Supply Chain perspective?  

#4 In building supply chain competencies, what are the trade-offs that must be considered?    

#5 What risk do managers take when they view their firm’s performance solely in financial terms?

Explanation / Answer

1. Yes I think there is certainly a relationship between performance measurement and a firm’s competitiveness and profitability. For any given product, In case of the higher-end products, Technical Performance Measurement is undertaken in order to forecast the possible future value of such a parameter that is responsible for a key performance in the product. This is basically done by assessing the products which are lower in the system by pre-defining the planned process of the key variables in its technical parameters in terms of the Work Breakdown Structure. This way the values of the principal capabilities of a product is assessed by the Technical Performance Measurement. Once the future value of the parameters are assessed, it shall become easier to comprehend what makes the product a successful one. These parameters could be further studied, amended and improved in order to ensure that the Product is not imitated by the competitors in near future thereby ensuring more survival of the Product in a given market. More the survival and lesser the competition, better the chances of sales that could result into profitability out of it for a Firm. In this way, it can be said that there is a definite relationship between Performance measurement and firm’s competitiveness and profitability.

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