Salient Features of Key Performance Metrics Every Quality Leader Should Know
At ComplianceQuest, we have put together a whitepaper – Measuring Quality Performance With Metrics That Matter – based on our experience in shifting companies from reacting to quality events to predictive and proactive quality management, turning data into intelligence and actionable insights.
This blog is a short excerpt from this whitepaper
For a metric to be useful and effective, it must satisfy the following criteria:
Metrics that are easy to comprehend: Keeping it simple and easy to communicate is critical for a good metric. It should answer a simple question, like for instance, how many errors per batch is acceptable? The answer is straightforward, easy to understand, monitor and track.
Achievable: It is important that quality leaders and management teams set achievable goals for themselves. Often, small wins will also encourage the employees to remain motivated and look for continuous improvement.
Management Buy-in: Implementing quality programs and measuring them periodically requires resources. This makes management buy-in very crucial so that the required resources can be allocated.
Define the Metric: Setting the context for the metric and tying it to an employee or team’s KPI will increase the chances of its effectiveness.
Repeatability: When the same metrics can be applied over a long duration, it can reflect growth and progress more effectively. However, as a business scale, new metrics need to be measured and monitored.
Automation and Digital Transformation for Metrics-Driven Quality Management
For accurately measuring the various metrics, unified data is essential, and therefore, one needs a next-generation cloud-based EQMS like ComplianceQuest. It helps capture all the transactional workflow data such as the total number of CAPA open over a period, time spent on each phase of the workflow, and so on.
It also enables tracking metrics that point to variations in your process and product lifecycle as well as those that point to the company’s risk appetite in terms of innovation (top-line) and cost mitigation (bottom-line).
Periodic Management Review is essential for enabling the top management to have oversight on the overall health of their organization. ComplianceQuest’s fully integrated Management Review module comes with a powerful next-generation Quality Control Tower to visualize a set of key metrics through highly interactive dashboards and charts. Executive leaders are able to use data and insights to make the management review process more meaningful. The metrics you choose to display in the Control Tower change in real-time, as the business evolves and scales. Business leaders or operational owners can also drill down further on certain operational metrics to deep dive and analyze a particular KPI as needed.
Our solution leverages CQ.AI, ComplianceQuest’s artificial intelligence framework, to help leaders derive predictive intelligence and actionable insights. It makes it easier for meeting attendees to decide which metrics to focus on and why.
To understand more about our Management Review module with Quality Control Towers & Meeting Management,Request a personalized Demo
To get a detailed overview of Key Metrics for Quality Management, sign-up for the whitepaper here.