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Lecture 40 : Supply Chain Performance: Balanced Scorecard Approach — Transcript

by NPTEL IIT Kharagpur · 9,521 words · 1,417 segments · language en · Watch on YouTube

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0:01[Music]
0:22[Music]
0:26hello dear friends welcome back to nptl
0:28online course on Logistics and Supply
0:30Chain management so today we'll start a
0:33discussion on another very important
0:35topic which is balance scorecard right
0:38so we'll see how we can align the supply
0:41chain overall performance with certain
0:44key strategic areas not only the
0:47financial measures but also we'll try to
0:49figure out what are the non-financial ma
0:51measures which we can align with the
0:54overall strategy vision mission uh of
0:57the organization right so uh we'll
1:00proceed in this way we'll talk about in
1:03generic what are the performance
1:04measures quantitative qualitative
1:06measures then we'll talk about balance
1:09scorecard approach what are the
1:11different aspects we'll uh try to
1:13address under balance scorecard and then
1:16we'll try to see uh balance scorecard in
1:20uh connection with the supply chain
1:23right we'll try to develop the supply
1:24chain performance matrices and then
1:27we'll see how we can me measure those
1:30you know uh uh performance uh indexes so
1:33that we can you know uh implement this
1:37uh uh balance scorecard approach to
1:39improve the overall quality of the
1:42supply chain quality efficiency uh
1:44Effectiveness in whatever way you are uh
1:47calculating the performance so that we
1:49can improve and then we'll end this uh
1:52discussion with couple of cases right so
1:54we'll uh spend couple of session on this
1:56starting with supply chain performance
1:58measures so basic is what we are
2:01targeting is your Effectiveness and
2:04efficiency what you are supposed to
2:06deliver right uh package of that product
2:09or Services whatever you are delivering
2:11and how efficiently you are doing that
2:13having said that that means you need to
2:17align all the activities all the
2:19functional areas throughout all the
2:22stakeholders involved in that supply
2:24chain from the starting to the end point
2:26right and when you are aligning those
2:29activities not only you need to perform
2:31those activities effectively to deliver
2:33the product but also the cost effective
2:36way right so efficiency we need to
2:39Target as well right so again if I'll
2:43just draw the again the main
2:46stakeholders raw material suppliers are
2:49coming from here and then we
2:53are having the manufacturers
2:57co-manufacturers and then finally we we
3:00have the
3:01customers right through the distribution
3:04Network right or maybe you can see your
3:07distribution agency can also be
3:11sometimes considered as
3:14the customer right and uh this is how it
3:18is happening and sometimes what we are
3:19doing we are processing the returns as
3:22well when we are not happy with the
3:24products we are processing the returns
3:25as well so this is very basic uh supply
3:28chain structure we are was discussing
3:30from the starting right now when we are
3:33talking about Supply Chain management
3:35Effectiveness and efficiency just I'll
3:38briefly
3:41I'll again just touch these points first
3:44point in efficiency and Effectiveness is
3:47acquisition of the raw material right so
3:50acquisition means right raw material
3:52should be there right raw material in
3:54right quantity at right place right time
3:57right that is Effectiveness and
3:59efficiency how you can minimize the
4:03overall cost of acquiring that ownership
4:06of the raw material right so first thing
4:08is if I'll say cost of raw material is
4:11the first component when we'll design
4:14the overall cost function so raw
4:16material cost is the first one then we
4:18are transporting that raw material to
4:21manufacturer so Transportation cost is
4:24the next element in that how effectively
4:26how efficiently we are transporting that
4:29again depends upon the routing depends
4:32upon the vehicle
4:36utilization depends upon the mode of
4:39Transport you are picking and other
4:41factors related to Transportation right
4:43so then what we are doing we are storing
4:46in between the storage houses that raw
4:50material we are maintaining the
4:52inventory because if we are not doing
4:54the just in time of system or even in
4:57just in time of system we are
4:58maintaining uh inventory for very very
5:01temporary uh period of time right so
5:04then again the storage cost will be
5:07there storage means whenever we are
5:09talking about storage handling will also
5:11come into that again then now the second
5:14stage manufacturing converting your raw
5:17material into finished one that
5:19manufacturing cost will be added right
5:23so throughout this discussion of balance
5:25scorecard we'll keep all these points
5:28from where the C cost is you know coming
5:31right you need to configure this cost
5:33function then manufacturer what is doing
5:36are delivering the finished goods to the
5:39distributor then again we are managing
5:42the
5:43warehousing so warehousing cost will be
5:45there keeping the inventory track
5:48handling all that will do that in
5:51warehousing only right so sometimes we
5:53are doing the extra packaging sometime
5:55we are doing kitting right so that will
5:58also be the cost warehousing cost right
6:01and then the final the distribution cost
6:03you can consider it as the end mile
6:06distribution cost so these basically
6:09when we'll design the cost function
6:11these different components will be there
6:13when we are say saying efficiently so
6:16that means we need to minimize the cost
6:19either your raw material acquisition how
6:22how you can minimize the raw material
6:24acquisition cost by negotiating with the
6:26suppliers how you can effectively
6:28acquire the material by by negotiating
6:30the quality by negotiating the variety
6:32right when having said that negotiating
6:35the quality that means we have done that
6:38vendor rating whosoever is the best
6:40vendor you need to get the raw material
6:43from that vendor maximum raw material
6:45how you can you know uh Empower your
6:48vendors in that process you can uh
6:50improve their technology you can improve
6:52their skills their processes how they
6:54are producing the raw material so that
6:56way we have discussed in the vendor
6:58rating format and we have discussed in
7:00the uh supply chain coordination as well
7:02how you can improve the performance and
7:04efficiency of the your stakeholders
7:06right so this is see we one we are
7:09discussing on cost another end we are
7:11discussing on the effectiveness quality
7:13other parameters right then we are
7:15talking about if we'll if we want to
7:17minimize the manufacturing cost maybe
7:20we'll try to produce in bulk right so
7:23that the per unit cost can be reduced
7:26because if you are producing 50 units
7:29and if you are producing 5,000 units per
7:31unit cost will be different because you
7:33are enjoying the economies of scales
7:36right so that but then if you are
7:38producing 5 unit 50 unit or 5,000 units
7:42so then again the inventory cost will be
7:45varing in that way if you're managing
7:47more inventory but if you can ensure the
7:50consumption of the inventory in the
7:51market then it is fair enough right so
7:54this is how you can minimize talking
7:56about distribution how end mile delivery
7:59you can Reduce by maybe electrical
8:01Vehicles you are if you are doing the
8:03delivery using that maybe you are doing
8:06delivery by bicycles or some other way
8:09where you can minimize the total cost so
8:12we have discussed this in detail how we
8:15can minimize the transportation cost how
8:17we can manage the effectiveness in
8:19during transportation in warehousing
8:22while picking our raw material suppliers
8:25then we discussed all different sessions
8:27we we have done till now right so this
8:30is the brief scenario how when we are
8:33talking about you know productivity and
8:35efficiency we need to focus on this so
8:37again there is no need now to explain on
8:40this key components ontime delivery
8:42stock availability order accuracy
8:44production these are few measures right
8:47so the complete picture is there when
8:49you are talking about uh quick delivery
8:53so from the Fulfillment center that mean
8:55it it is the performance measure related
8:58to your warehousing right how quickly
9:01Warehouse is recording the order and
9:04then picking packing the order and
9:06finally making the delivery to the End
9:08customer so that this is one component
9:11related to your Warehouse only but when
9:13we will keep on you know discussing
9:16different functional units different
9:17stakeholder this these uh measures will
9:20change right so because I have picked
9:22only few points for examples right so
9:26then you can you know uh we can we have
9:28discussed all those stakeholders in
9:30detail you can pick those performance
9:32measures and then accordingly you can
9:34design the balance scorecard for all
9:36that so obviously we have some
9:38qualitative measures sometimes we don't
9:41we really cannot you know quantify some
9:43things like how I am feeling about the
9:46product your experience about the
9:48delivery so maybe then you cannot you
9:50know exactly quantify in terms of
9:53numbers so then you are give you are you
9:55know getting the feedback whe uh
9:58satisfactory or less satisfactory or you
10:01know uh resonance after purchasing or
10:04after salale Services right so those are
10:07some of the qualitative measures you are
10:08recording quantitative on time delivery
10:11whether you are 5 minutes late or you
10:13are 5 minute early right that is your
10:16quantitative measure quality defects how
10:18many product complaints are coming back
10:20to you that is another defect so you can
10:23actually record in time right so some
10:25some other measures are there
10:27flexibility how quickly you can change
10:29change over if you are producing Model A
10:32then you need to change over to model B
10:34how quickly in 10 minutes you are doing
10:36that in 5 minutes you are changing over
10:38from one model to another model that
10:40means your manufacturing is very
10:42flexible right this is only I'm talking
10:44about manufacturing so this flexibility
10:46can be associated with warehousing as
10:48well this flexibility can be associated
10:50with the transportation network if today
10:52I need maybe uh small size packet or
10:56maybe same product small size how C you
10:59can deliver the order tomorrow I need
11:01bigger size maybe today I'm uh let's
11:04take the example only family two three
11:06members are there and we we want to
11:08order cake so very small size cake you
11:11are ready to deliver your career partner
11:13is ready to deliver he's having that
11:15capacity your uh uh cake manufacturer
11:18that Bakery is ready to deliver tomorrow
11:20I have invited maybe 100 people for the
11:22birthday purpose right so then you need
11:24that bigger cake whether you're
11:26manufacturing that Bakery is uh you know
11:29flexible enough to manufacture that size
11:31of cake so that is your uh just one
11:35example talking about quantitative
11:38measures some measures we can directly
11:41attach with the financial measures and
11:43some we cannot attach with the financial
11:45measures so non Financial measures that
11:48you you actually you are calculating
11:50very important but somewhere indirectly
11:52leading to your you know performance
11:54only when we are saying performance that
11:56means either you are talking about you
11:59are making enhancing the customer
12:01experience then what will happen
12:03customer will be loyal then what will
12:05happen customer will go for more
12:07frequent purchases that means again you
12:09can attach with the financial measure
12:10your profit is increasing your market
12:12share is increasing Financial direct
12:14Financial me what is the uh return uh on
12:19investment that is direct Financial uh
12:22you know measure how much you are
12:23investing how much you are getting what
12:25is the profit again direct Financial
12:27measure right how much you are saving in
12:29inventory again direct Financial me what
12:31is the inventory cost again direct
12:33Financial measure how much is the
12:35purchase order cost uh raw material
12:37acquisition cost again Financial measure
12:40non Financial measure your uh like
12:43quality of the product right so then you
12:45can see how you are ontime delivery of
12:48the product right how you are ensuring
12:50quality how you are ensuring delivery so
12:52that is non Financial measures so let us
12:55quickly go through the financial
12:57measures so obviously we have some fixed
13:00and operational cost and we want to find
13:03out whenever we are calculating or we
13:05are you know we are defining our kpis
13:08why we are doing this there are two
13:11basic reason one is we want to find out
13:14where we are our performance level right
13:17now where we are what is our level right
13:20so maybe we are standing somewhere here
13:23then what is the Benchmark in that
13:25industry where is the leader of that
13:27industry maybe somewhere here here so
13:30this is the gap how we can bridge that
13:32Gap so two basic purpose first is we
13:35need to measure our current performance
13:38and where we want to be in next maybe 5
13:41years 10 years down the line or maybe
13:43smaller time period can be there
13:45depending upon what you are dealing with
13:47right so you need to pick the Benchmark
13:50this is the basic measures so we can
13:52just go through raw material cost
13:55whatever raw material cost you are
13:56acquiring so whatever you are paying not
13:59only the raw material cost the storage
14:01cost of raw material the transportation
14:03of raw material the handling of the raw
14:05material means total cost of ownership
14:08maybe it is included here if it is not
14:10included you can see total cost of
14:13ownership how much you are paying to get
14:17that raw material into your Factory and
14:19then you are means on the production
14:21line after that once production is
14:23starting then you know it will be under
14:26your manufacturing cost and until that
14:29your total cost of ownership revenue
14:32from the goods sold how many Goods you
14:35are selling and what Revenue you are
14:36getting out of that right activity based
14:39cost so if you are talking about in
14:42Inventory management how much Inventory
14:44management is adding to your overall
14:46cost if you are talking about logistics
14:48cost distribution Transportation
14:50warehousing cost how much you are adding
14:53to overall cost like we discussed in the
14:56initial session in India the logistics
14:59cost is around 14 to 15% now what is the
15:02purpose of calculating this see the
15:06global average is somewhere 8 to
15:0810% if we talk about the developed
15:11Nation they are maintaining somewhere to
15:136 to 7% that means that means we are
15:17spending extra on Logistics activity we
15:21need to reduce this heavily we need to
15:24do some optimization we need to go for
15:27picking the alternative route we need to
15:29pick for alternative transportation mode
15:31we need to update our warehouses go for
15:33updation maybe uh automated warehouses
15:36inventory minimization whatever required
15:38to minimize the cost because still we
15:40are spending somewhere 6 to 7% extra
15:44than what of other players in the market
15:47they are spending if you are spending 7%
15:50extra that means that somewhere 7%
15:53directly profit you are reducing so your
15:56other foreign players will be cost
15:58efficient then they will be delivering
16:00the product on lesser margin and
16:03obviously then how you will compete
16:05inventory holding cost will come into
16:07that the carrying cost right during
16:09handling you are sometime damaging the
16:11product as well that cost will also be
16:13there Transportation cost already we
16:15talked about whether we you are going
16:18through air you are going through ship
16:20you are going through Road and we have
16:22seen that ship is the most cheap and
16:25sustainable sustainable way to transport
16:27your product but then then whether we
16:30have that uh you know infrastructure uh
16:33to go for that then cost of expired
16:37perish Goods so what if goods are
16:40expiring in your Warehouse in your
16:42storage center before producing that
16:45your raw material uh is expired because
16:48of the perishable nature of the product
16:51or in the final distribution fulfillment
16:53center the uh expir product expired
16:57because you could not
16:59uh you know move that inventory in the
17:01market you could not ensure the sales of
17:04that product right penalty for incorrec
17:08filling of the orders if some raw
17:11material is incorrectly coming to you
17:14obviously uh issues related to Quality
17:17and then if still raw material suppliers
17:20are supplying to you that means it is
17:21incorrectly filled so that cost will be
17:23there either you will be segregating you
17:25will be sending back so then again
17:28Transportation cost because this is
17:29system cost this is not only obviously
17:31your vendor will bear that cost but
17:34again delay will be there and then you
17:36were expecting to Le the lot today and
17:39that lot reached but that is in not in
17:41good shape in good quality so what you
17:43will do you will return back but then
17:45your whole production line will stop how
17:47you will maintain the ontime delivery
17:50what you will do forget about the on
17:52time delivery what you will do with that
17:55th000 manow working on that
17:57manufacturing line credit for incorrect
18:01uh field said that that is already there
18:03if you are doing segregation or
18:05maintaining the raw material so
18:07obviously uh your vendors will pay and
18:09cost of goods returned by the customer
18:13if customers are returning the order
18:15because of Any failure any defect any
18:18quality issue any functionality issue
18:20man manufacturing related issue
18:22packaging related issue delivery related
18:24issues what is the cost right so that
18:27full exercise is gone right credit for
18:30Goods return to supplier so that also
18:33they need to credit that now let's talk
18:35about the non Financial measures uh
18:38quickly so cycle time cycle time
18:42basically for any activity we can say
18:45that how much time is required to
18:47deliver this session maybe 35 40 minutes
18:51right so but that is the actual time
18:53let's say the complete time when you
18:55will uh go through this lecture record
18:58lecture maybe 42 minutes but when I
19:01recorded maybe I recorded for 44 or 45
19:04minutes because of some interruptions or
19:06something like happened so video editing
19:08team they did that editing part and then
19:10it is reduced to that much right so how
19:13much cycle time when we start if we are
19:16talking about the video recording right
19:18so that 45 46 time is the cycle time but
19:21actual time in the end maybe only 40
19:23minutes okay so for any activity if we
19:26are placing order when we are receiving
19:28order again cycle time okay so then uh
19:32we can divide into two types supply
19:35chain lead time right supply chain to
19:39transform the raw material into finished
19:41one and then to ship that finished
19:43product to the End customer that
19:45complete time required is the lead time
19:49today if you are placing the order you
19:51are placing order some for some
19:52customized product let's say so then
19:55once your order will reach only then I
19:57will start producing product right that
20:00means because of your inputs are
20:02important to prepare the final product
20:04so that production time will be there
20:07and then it will take delivery will take
20:08some time order to delivery if I'm
20:10having in house the delivery and then
20:13how much time it is required to you know
20:15ship the product from the warehouse or
20:17the Fulfillment center to your
20:20location customer service level so
20:23customer service level we talked about
20:25you know customer services level in uh
20:28quality measures are also there for
20:30customer services what variety they are
20:32looking for again qualitative measures
20:35what level of innovation they need for
20:37that the experience of the delivery what
20:40are their expectations right lead time
20:43how much time they can wait this is
20:45quantitative measures right so these are
20:47some of the uh parameters we have
20:50designed from customer services level
20:52required order fill rate so how quickly
20:56you are filling the order orders coming
20:59from the customer from your existing
21:01stock that means customer plays the
21:04order and your fulfillment center or
21:06retailer or wherever you are maintaining
21:08the inventory you have that inventory
21:11and you are quickly moving the inventory
21:13that is order fill rate stock out rate
21:16how many times you were out of stock if
21:18100 orders were placed 95 you filled on
21:22time but for five orders you took maybe
21:25one day or two days that means your
21:27order fill rate is 95% stock out rate is
21:325% and maybe sometime you may lose the
21:35uh sales as well because if you are not
21:38maintaining the inventory someone else
21:39must be maintaining the inventory so
21:41customer will shift to some other back
21:44order level back order level means you
21:47have the order pending but you have not
21:50uh sufficient inventory so once
21:52inventory will come you will clear the
21:54back order usually now if you talk about
21:57the automobile industry maruti if you go
21:59for purchasing any car or Hyundai or
22:03Toyota so usually they are saying that 3
22:05months time period is there waiting time
22:07period is there sometime they are saying
22:096 months sometime they are saying one
22:10year waiting time right actually this is
22:14part of their marketing strategy also if
22:16they are saying that one year waiting
22:17time that means you customer will feel
22:20that this product is in great demand so
22:23that's why you know that much waiting
22:25time period is there but still 2 months
22:273 months waiting time is there because I
22:30told you this automobile industry in one
22:33model particular model maybe more than
22:36200 variants are there so maintaining
22:39for each type different type of model
22:42inventory that means minimum one
22:44inventory you will maintain that means
22:46minimum 200 cars in same make you will
22:50uh maintain the inventory 200 Cars if we
22:53will talk about Grand barara right so
22:56200 you just calculate the cost of
22:58inventory and that I'm talking about
23:00only maintaining one piece of the
23:02product right so because custo regular
23:06orders which are lying somewhere in the
23:08middle you may get frequently because
23:10they are preparing it on frequent basis
23:12most of the customers depending upon
23:14their Predictive Analytics they are
23:16buying that and then they are predicting
23:17the demand so but talking about the
23:20extreme model Top Model maybe that much
23:23demand will not be there okay so then
23:26probability of ontime delivery so What
23:29proportion of customer demand you are
23:31meeting on time what is the probability
23:34if you will place order today and one
23:36when it will be delivered right so that
23:38way you can calculate inventory levels
23:41so usually we are inventory we discussed
23:43about either maintaining raw material
23:45work in progress or F finished goods or
23:48spare parts sometimes we are maintaining
23:51the inventory of the rejected material
23:53also returns also this is another
23:57inventory this is not completely
23:59rejected maybe you delivered the product
24:02something uh uh during your delivery uh
24:05you brought your cor partner broke the
24:07product some component so that means the
24:09Complete product is not a rejected one
24:12still you can use that product only you
24:14need to replace the component so then
24:17that inventory also you are maintaining
24:19here only you need to make the balance
24:21when we are talking about inventory
24:23levels you should not be stock out and
24:25all the time you should not maintain the
24:27excess inventory that's the only measure
24:29how you can measure the inventory levels
24:32resource utilization usually with the
24:35organization we have variety of
24:37resources we have talked about five M of
24:40resources man money machine material
24:44methods right other than that also we
24:46are using different resources but we can
24:48generalize in these five different
24:51categories so let's say like we'll take
24:55example of IIT kakur only any
24:57educational Institution so now uh almost
25:01for two or two 2 and a half months uh we
25:04have vacation period is going on right
25:06from maybe we started somewhere in the
25:08uh middle of May it will go up to July
25:11end right so all those lecture theaters
25:16Halls all those rooms facilities we are
25:18using now lying vacant we are not
25:21utilizing that capacity right unutilized
25:24resources right so that means those
25:27resources are there we can utilize those
25:30and still you know come with some
25:32profits some margin maybe we can add
25:34into the uh Institute uh you know uh
25:38funds and if we use those resources how
25:41we can use those resources this is one
25:43example when we don't have regular
25:45classes we can go for online courses
25:48like npdl is doing that during that time
25:50so still we can use this facility we can
25:52record the lectures and we can you know
25:55uh then we can you know serve the these
25:58services to the uh maybe distant
26:02students who are not here who cannot
26:04Avail these facilities and then they can
26:06you know go through these lectures and
26:08go through these videos so I mean we we
26:11can find out alternative ways how we can
26:14utilize those unutilized resources
26:17during that time so manufacturing
26:20process again if uh what machines we are
26:23using we are using different types of
26:25equipments right in the manufacturing
26:27process let's say we are manufacturing
26:30two different models a is in big demand
26:32B is in less demand but still we have
26:35separate
26:36manufacturing uh uh that production line
26:39for manufacturing your B product right
26:41but because production demand is not
26:43that high so almost we are running that
26:46production line daily maybe 78 hours
26:48only but a we are running 24 into 7
26:51right so that means that b production
26:53line we cannot you know remove that
26:56production line completely we cannot
26:58give that production line to something
26:59else right so what we can do is is there
27:02any model which can be very very closely
27:05related to B that so that minimum change
27:07over time is required and we can combine
27:10with some model C or D or any other
27:12model Right Storage
27:15resources if warehousing you have
27:17maintained that capacity of maybe you
27:20can store 100 ton of material but all
27:22the time somewhere on average you are
27:24storing 70 75 T that means fully you are
27:27not utilizing the capacity logistic
27:29resources we book the truck from kakur
27:32to Kolkata on the way back from Kolkata
27:35to kakur we are not utilizing that
27:37capacity how we can you know utilize in
27:40a better way so that the that can be
27:43ensured full utiliz can be similarly we
27:45go with the human resources or financial
27:47resources right if Financial Resources
27:51example is inventory always you are
27:53maintaining 10 CR inventory within your
27:56organization in different ways either
27:58raw material semi-finished or finished
28:01right so that means that 10 CR is the
28:04amount you are not utilizing just
28:07imagine if you'll deposit that amount
28:09somewhere in the bank you are doing
28:11nothing right even then you'll get 4% 5%
28:14right so if you'll invest somewhere in
28:17the markets then returns depends upon
28:19your capability how much you can
28:21generate right so that is one source
28:24qualitative measures customer
28:26satisfaction user usually you are
28:28delivering swii is delivering food to
28:31you jto is delivering food to you then
28:33they are asking for some your experience
28:35right maybe food quality food taste
28:38hygiene packaging uh the career partner
28:41who delivered the food package wearing
28:42the gloves or not so cut see how he was
28:46dealing with you payment was done
28:48smoothly if you canceled the order where
28:51your payment is you know returned back
28:53to you so these are some of the points
28:55you qualitative measures you can just
28:57record customer complaints number of
29:00complaints coming from the customer
29:02related to maybe delay delivery related
29:04to maybe some other things right so that
29:07also you can record customer response
29:09time how quickly you are responding if
29:13any query is there right from the
29:16customer right product quality for
29:19Quality like I told you food quality you
29:20can rate and then when next time Jato
29:24whenever you will search uh Jato so that
29:27restaurant means most of the customers
29:29are rating at the highest so that
29:31restaurant will be reflected first based
29:33on you know rating so that usually this
29:37the beauty of e-commerce you know
29:39website and uh Market is that you can go
29:43for the genu rating of the suppliers
29:46right so delivery experience already
29:48talked about and Order accuracy that I
29:51ordered something and I I got the same
29:53order that means order were accurately
29:56uh recorded right so talking about
29:59either food if I gave some maybe uh you
30:02know cooking instruction that it should
30:03be less spicy so whether you maintain
30:06those instructions you implemented or
30:08not so that is order accuracy you can
30:11and then deliver the correct order in
30:13time let's talk about now the balance
30:16score card right this is a kind of tool
30:20which we can use to record all the
30:22performance measures whether Financial
30:25or non-financial performance measures
30:27right so it gives gives us the you know
30:30uh comprehensive framework right
30:33comprehensive framework which helps to
30:35align the business activities to their
30:38main vision and strategy what is your
30:41vision and Mission what is your strategy
30:43let's say if you want to be uh
30:46responsive in the market so that means
30:49to be responsive whatever customer is
30:52demanding you need to deliver that
30:54quickly whatever feature they are
30:56demanding whatever color variety flavor
30:59in whatever way they are giving their
31:01inputs and if you are saying that
31:03whatever inputs you will give they'll
31:06provide you the customized services so
31:08that means that responsive supply chain
31:11manufacturing or order fulfillment is
31:13happening right throughout the chain you
31:16need to supply chain you need to
31:17maintain the responsiveness so that will
31:20improve if that common thread of vision
31:22and strategy is there so internal and
31:24external communication internal within
31:26the organization external means with
31:28your stakeholders your warehousing
31:30partner distribution partner
31:32Transportation partner your uh suppliers
31:36so this was developed by Robert and dbit
31:38and they included Financial as well as
31:41non-financial measures into four
31:43different perspective where they
31:44included Financial perspective as one uh
31:48performance key performance area where
31:50you can record different kpis then
31:52customer is another key performance area
31:54where again you can record different
31:56kpis and you can improve on that
31:58internal business process how you are
32:00doing internally either you are
32:03manufacturing or you are storing how
32:05efficiently you are storing or you are
32:07pack doing the packaging how efficiently
32:09you are doing the packaging learning and
32:11growth how you are ensuring that your
32:13organization is sustainable if any new
32:16technology is coming you are not getting
32:18obsolete your Manpower is not getting
32:20obsolete you are continuously you are
32:23continuously improving their skills as
32:25well right so this is a holistic
32:27approach
32:28which will tie all the organizations all
32:30the stakeholders in that supply chain
32:32right just go through the center heart
32:35of this model is framework is vision and
32:38strategy like I told you if you want to
32:40be cost efficient or you want to be
32:42responsive that will be your heart your
32:44vision your vision in the market is to
32:47compete with the other players based on
32:50cost to compete with other players based
32:52on cost based on responsiveness based on
32:55quick delivery whatever can be there
32:58right so all these measures we are
33:02defining the objective for each whatever
33:05strategy we have Vision we have we'll
33:07Define objectives we'll measure that
33:10objective how we will how we can measure
33:12that right some quantitative or
33:14qualitative measures then what are the
33:16targets initially and then what are the
33:18initiatives we are taking to implement
33:21that strategy so these four things we
33:24are defining for each set of strategy
33:27each each objective right so talking
33:30about the these four different
33:32perspective customer is one that means
33:35to achieve our vision how should be
33:38appear to our customer how our customers
33:41are evaluating us right so let's say
33:44when we are talking about customer we
33:46want to talk we want to minimize the
33:49delivery
33:51time now objective is to minimize the
33:54delivery time so how you will measure
33:57the deliver time maybe you are recording
33:59the lead time that is how you can
34:01measure the delivery time lead time when
34:03I'm placing the order and when you are
34:05getting the order right then targets
34:07what are the targets right now maybe we
34:09are delivering in 5 to 6 days I I want
34:12to ensure in two to 3 days that is my
34:15target or maybe firstly from 5 to 6 days
34:19you want to reduce to 4 to 5 days and
34:21then one from four to five days you want
34:23to make it two to three days and from
34:26two to three days maybe you will ensure
34:28the single day delivery right or maybe
34:31then you will go for same day delivery
34:33so this is means not ending process this
34:37keep on we'll keep on doing again and
34:40again we'll keep on improving ourself
34:42right so this will be Target now
34:45initiatives what you will take the
34:47initiative right so initiative means if
34:50I'm saying that let's take the example
34:52of 2 to 3 days so when I'm saying that 2
34:55to 3 days whenever customer is placing
34:57the order the career partner who is
35:00picking that final product from any
35:03retailer or sales point should ensure
35:06that he is picking within 4
35:08hours then the delivery to the nearest
35:11Hub should be done in another maybe 6
35:15hours then maybe from that Hub to the
35:19nearby Hub to the customer maybe within
35:2124 hours it should be delivered then
35:24sorting and you know delivering the
35:26message to the customer
35:28maybe it will take no not so from
35:32the main uh Warehouse let's say this is
35:36in Delhi and from Delhi to uh Kolkata we
35:40are saying that 24 hours right it should
35:43be reached from Kolkata to nearby kakur
35:48right it may take another 5 to 6 hours
35:52then from 5 to 6 hours how we can ensure
35:54two 2 hours delivery this is how we can
35:57plan when we are talking about within 2
36:00days delivery so that means these are
36:03initiatives so for this career partner
36:07initiative is within 4 hours you need to
36:10pick the
36:11order and then it should be delivered to
36:13nearby Hub so these are the target so
36:15let's talk about then learning and
36:17growth so let's say we have some
36:20unskilled
36:23workers we have semiskilled workers
36:29and we have skilled
36:31workers now what is happening once if
36:35I'm working for Organization for longer
36:37time and then I start experiencing that
36:39there is no learning there is no growth
36:42my career path I'm not able to look so
36:44that means I'll feel bored I'll start
36:46applying some other organization so how
36:48you can engage your or uh people in the
36:51organization if your unskilled people
36:53are there your target objective should
36:55be how you can make them more skilled
36:57measures are you measure the skill level
37:00their technically technical efficiency
37:02their managerial efficiency how they are
37:05doing the things maybe you can sort them
37:08depending upon different functional
37:10units someone may be good with the
37:12marketing someone may be good with the
37:14purchase someone may be good with the
37:15manufacturing quality R&D whatever
37:19different functional units are then your
37:21target should be how you can move them
37:24from unskilled to Skilled those who are
37:27moved to unskilled to semiskilled the
37:29next Target is move them to Skilled and
37:32skilled is nothing like today I'm
37:34skilled for this maybe teaching this
37:36course tomorrow something else will be
37:38there in this course so again we need to
37:41you know res skill ourselves so skill
37:43Skilling is the kind of process which is
37:46never ending process learning is never
37:48ending right so initiatives are you will
37:51do some training and development
37:54programs right then talk about internal
37:57business process again let's say uh we
38:00are talking about fall F fall of
38:02rejection rate means process rejection
38:05process rejection means we are producing
38:08something during the process uh
38:10processing that we are breaking the
38:13components sometime we are doing the
38:15faulty operation and then the complaints
38:18are coming from the market so maybe the
38:20target is always less than 2% it should
38:23be means how many products you are
38:25producing defected products and how many
38:28total you have produced if you have
38:30produced total uh total 90 100 products
38:34out of those two products are defected
38:37right 98 are okay so that means fall of
38:39rejection rate is
38:412% right so now you see how we can
38:45measure this objectives we objective is
38:48to reduce this let's say this is a new
38:50model we just implemented the process we
38:53want to make it less than 10% right now
38:56because we are somewhere feeling me 12
38:58to 15% fall of rejection rate less than
39:0110% we need to maintain measures will be
39:03fall of rejection rate f is the measure
39:06Target is initially I will go for maybe
39:0910 to 11% then I'll go for 8 to 10% then
39:14I'll go for 5 to 7% see then I'm saying
39:18stage wise this improving this how this
39:20will improve either I need to make some
39:23investment in the process I need to
39:25change the process I need to train my
39:28Manpower I need to opt for some latest
39:31technology that means this involves cost
39:34so when you are taking those initiatives
39:37right either you are taking initiative
39:39to implement new technology that improve
39:42that includes some investment so you
39:44need to you know evaluate whether
39:47whatever investment you are doing
39:49whether that investment is really coming
39:52in terms of reducing the F or not okay
39:56Financial measure so again to succeed
39:58financially how our stakeholders should
40:01uh view us that how we are doing
40:04financially right so if you are talking
40:07about cost of production we want to
40:10reduce the cost of production this is
40:12the objective or maybe Logistics cost
40:15the last example we talked about is 14%
40:18in India how we can improve the cost
40:20maybe this objective is we'll make it
40:2310% and because our 70% share is is
40:27going through Road transportation and we
40:30have seen that road transportation is
40:33usually carries more cost more delay
40:36will happen accidents will happen and
40:39weather condition depending upon so many
40:41external factors so if you want to
40:45reduce that our first Target should be
40:47we need to reduce the road
40:49Transportation share we need to increase
40:51the ship Transportation share where the
40:55cost may be not more than 1.5 rupees per
40:58kilometer but if you are talking about
41:00your road Transportation the one maybe
41:03the cost for shipping through 1
41:05kilometer may be 4 to 5 rupees so how we
41:08can uh reduce that cost alternative ways
41:12of transportation initiatives you need
41:14to Shi shift from one mode of
41:17transportation to other mode of
41:18transportation what you will do with
41:20those resources which you deployed for
41:22Road transportation that also you need
41:24to think so when you are changing from
41:26one to other mode your many of the
41:29resources will go obsolete what you will
41:31do with those resources so this is you
41:34can see depending upon your vision and
41:36strategy what you want to be how you
41:39will be you are posing yourself your
41:41organization after 10 years 20 years in
41:44that industry different measures you can
41:46set right so this is complete balance
41:49scorecard approach quickly we'll go
41:52through already I have discussed this
41:54point if customer perspective is there
41:56customer is worried about cost time when
41:59he's getting the product quality of the
42:01product and services level if you are
42:02saying within one day delivery I'll
42:05definitely come to you if you are saying
42:07for medicine within half an hour
42:09delivery going to Medical store
42:11searching for the medicines maybe I'll
42:13get may not I'll get so then again you
42:16go to the next store if I'm getting 30
42:19minutes delivery this is fair enough
42:22right so this is customer how customer
42:24is experience your services customer
42:27experience can be enhanced so this is
42:29customer perspective there may be some
42:31other ways these are four major points
42:34right how uh responsibly you are
42:37responding to your queries after sales
42:39Services can also be very important
42:41right what type of variety you are
42:43offering what type level of innovation
42:46you are offering that can be customer
42:47perspective but this is how you can
42:50figure out the dimensions related to
42:52customer
42:53perspective talking about your internal
42:56process perspective like we talked about
42:58we want to reduce the fall of rejection
43:00rate right so how we can reduce that we
43:03need to automate the process so if Pro
43:06process automation is there obviously
43:08there is no Manpower because that defect
43:11why defect is happening because manp
43:13power is doing the faulty operation
43:15maybe today he joined or very new on
43:17that operation so he's taking time to
43:19learn maybe he is not familiar with the
43:22equipment he doesn't know how to operate
43:24properly how to set the parameters even
43:26then that can happen so if you can
43:29eliminate manp power even then then you
43:32can reduce those defects but it's not
43:35only elimination when we are talking
43:36about the manufacturing we we can
43:38include the you know training and
43:40development
43:41programs if those are the critical
43:44stages where you know most of the
43:45defects are occurring how we can design
43:48how we can you know ensure that only
43:51trained people are working on those
43:52stages process bottlenecks how we can
43:55remove the bottleneck in the production
43:57so if maybe one again again and again
44:01I'm taking example if this stage is
44:03taking 5 Second this stage is taking 10
44:06second that means there is
44:08bottleneck he is producing two pieces at
44:11that time and he's only able to process
44:14one piece so bottleneck you are limited
44:16by capacity because of the second stage
44:19if you can
44:20somewhere you know maintain the uh
44:23uniformity throughout all the stages you
44:26see maybe more than 500 stages are there
44:28in the production line so you need to
44:31design accordingly how you are aligning
44:33your process and how you are defining
44:35number of activities per person if one
44:37person is moving from here to there uh
44:40everywhere he is dancing on the floor
44:42like that so that means most most of the
44:45effort is going waste in that way right
44:49talking about the learning and growth
44:51perspective how we can you know ensure
44:54that our see when we are talking about
44:56learning learning and growth it's not
44:58only the Manpower resources we are
45:00talking about they should learn and grow
45:01obviously they should learn they should
45:03grow and if anyone is able to see the
45:06career path in any organization
45:08obviously he will be motivated to go to
45:11the next level level one 2 3 4 5 already
45:14you have defined and you have made sure
45:16that even the person will you know work
45:19in your organization for next 40 years
45:21even then he will not feel like he is
45:24saturated in his career if you can
45:26desire that kind of career path for any
45:29employee in the organization obviously
45:31no will no one will leave because every
45:34day you are getting new opportunities
45:36new challenges your job is enriched your
45:39job is enlarged in that way you are also
45:42finding your passion but that is one
45:44point when we are talking about
45:46maintaining your manpa but what about
45:50learning and growth when we are talking
45:51about whether we are learning new
45:53technology if our competitors are
45:55implementing iot right industry 4.0 and
45:59they are automating their warehouses and
46:02we are still we we maybe 500 workers are
46:06working in the warehouse and then they
46:07are taking time where is that packet
46:10where is that product then they are
46:12picking manually they are pack doing the
46:14packaging then they are doing the
46:16kitting manually then it is sent and
46:18sometimes because when you are putting
46:20the level or maybe the billing invoice
46:22manually you can do it wrong because
46:25daily maybe you are processing more than
46:2710,000 products so that is quite
46:30possible right so how you are growing
46:32technologically how you are sustaining
46:35is the right word how your organization
46:38is sustaining how Industries are doing
46:40today after 10 years the scenario will
46:43totally change right so how quickly your
46:47uh resources are opting for that right
46:50Financial perspective cash flow how you
46:53are managing C liquidity ratio if you
46:56are keeping you know all the time very
46:58high inventory that means your cash is
47:01involved in inventory only right and why
47:04inventory is there because you are not
47:06connected fully with the customer and
47:08you are not able to configure the demand
47:11return on investment if you are going
47:13for implementing iot you invested 10%
47:16but you see that only return is 2% what
47:20is the fund of implementing
47:22iot right so that also you need to
47:25ensure whether you are getting those
47:28returns or not or wherever Financial
47:30results either month-wise week wise you
47:33are you know observing or sometime
47:36measures are like that long-term
47:37investment is there so maybe it will
47:39take two years five years down the line
47:42when Zoo initially started investing
47:45into the market and they said that all
47:46services are free that means that was
47:49their investment for first year they
47:51were not looking at all for any single
47:53rupee of profit and then then once we
47:57will be well established capture at
47:59least 60% share in the market then we'll
48:02come with our pricing policy right so
48:05that is one scenario how these four
48:09perspective are
48:10linked see how do customer CS
48:14financially if you are buying your
48:16product see whenever you you start
48:20buying the product any home appliances
48:22so let's say if you are buying TV so
48:25first thing maybe for middle class or
48:27somewhere upper middle class usually you
48:30talk about Sony is known best in the TV
48:33maybe right if you talk talk about the
48:37sound quality system Sony may be the
48:39leader if we talking about AC Hitachi
48:42lawyer these are maybe the leader so
48:44that means financially if you are you
48:47are buying that brand that brand is
48:49existing everywhere right like best
48:51example is Uber anywhere you go most of
48:54the countries Uber eat is there Uber
48:57Eats and then Uber Services you can get
49:00so that means wherever you are you are
49:02feeling comfortable that your service
49:04provider is there only right so you are
49:07not worried about if any returns are
49:09happening you are not worried about if
49:11you'll miss any you know uh ride or
49:14something like that if you cancel any
49:15ride if you if I'll visit some other
49:18country and if I'm installing app
49:20temporarily and then using that app I
49:23never know whether I'll get my money
49:25back or not and whether that app is
49:27reliable or not right so that means then
49:31customer and learning growth how are how
49:34we doing are we doing the best for
49:36stakeholders how our stakeholders are
49:38when you are saying that that this year
49:41we earned 10% profit and then you are
49:43saying that 5% will'll do it at dividend
49:46and rest 5% we'll invest further for
49:49further Improvement maybe in technology
49:52maybe developing some resources maybe
49:54expanding or anything any other business
49:58that means whether your stakeholders are
50:00looking in that way or they want all the
50:0210% right now where we can create value
50:05for the customer through business
50:07processes and whatever we are doing how
50:09we can excel in those processes we can
50:12be the best in that so this is best
50:14example of balance scorecard right so
50:18you can just take any example if we want
50:20to improve the productivity Financial
50:23perspective means input is still this
50:27level output you are producing this much
50:30right earlier maybe the situation was
50:33this this much input and this much
50:35output you were getting right at this
50:38level now either you can do this or for
50:42the same input maybe you can red you can
50:45increase the output or maybe you can
50:48reduce the input and still you are
50:51maintaining the same level of
50:53output so how you can do that capacity
50:56utilization is one point how much
50:59percentage of capacity you are utilizing
51:01trial production spare part production
51:03how you are doing that so then you can
51:06monitor weekly monthly you can monitor
51:08like the best example I quoted today is
51:11that when for these two and two and a
51:14half months whenever all the lecture
51:16theaters are empty and those facilities
51:19project highend you know infrastructure
51:22we have developed here so that is lying
51:25you know idle we are not utilizing those
51:27resources can we run some training
51:29programs for some Industries during that
51:32time will not only generate the revenue
51:35we are also extending our H hands
51:38Helping Hands to the industries where we
51:40can train our industry people also our
51:43industry is very you know big
51:45stakeholder for any educational
51:46institution only then those people will
51:48return back and will ensure the
51:50placements also they will also ensure
51:53the training they will invite the
51:54students from our campus for the
51:56training purpose so this is how you can
51:58what you are doing you are not investing
52:01a single rupee extra to develop those
52:03resources already those resources are
52:05there and for two and a half months we
52:07are not using and same is happening
52:09during December month also when there is
52:12winter break right so this is one way
52:16other also you can I have already taken
52:18the example you can think of any you
52:20know continuous Improvement we are
52:21talking about you can Implement Kaizen
52:23you can Implement Six Sigma you can
52:25Implement lean man manfacturing right so
52:27continuous Improvement how you can
52:29improve and those you can uh monitor uh
52:33maybe uh daily also you can monitor
52:37weekly also one very good example is
52:39striking in my mind when I was working
52:42uh with the uh every India limited so
52:45they they were trying to get ISO
52:48certification for uh uh 14,1 also they
52:51were trying and 9,1 they were trying for
52:54quality and they were trying for
52:56environment so what they did before
52:58going for certification they conducted
53:01some training Pro program for uh uh for
53:04internal you know uh employees so they
53:08picked one person from quality I was
53:10picked from quality from one person from
53:11production one person from store and all
53:15those people were involved and they
53:16trained us for maybe 10 days and then
53:18they uh you know we uh we attended one
53:22exam also and then we were you know ISO
53:24certified auditor so that means before
53:27going for external certification we have
53:30internal Auditors who can maintain the
53:32records for maybe next 6 months or one
53:34year and then we will see that now we
53:36are ready to apply for this and when
53:39those people will come because we have
53:41already you know auditor team who have
53:43done this exercise meticulously that
53:46means obviously we'll get that
53:47certification this is one way how you
53:49can align your strategy so what are the
53:53benefits you can align your performance
53:56measures your strategy at all levels of
53:58the organization all the stakeholders
54:01best way of communication single thread
54:04attaching all the stakeholders and
54:07obviously you are talking about the best
54:08practices where you are right now what
54:10are the Benchmark in that in terms of
54:12kpis then organization mission statement
54:16and strategic plan you are attaching
54:18with all the four perspective and that
54:20is not only you are aligning that is
54:22coming as order that now you need to
54:25improve we need to implement ISO 901 so
54:29that means we need to get that
54:31certification how we can do that there
54:33must be some employees internally who
54:36are regularly doing all the checks and
54:38then one day they will say maybe after
54:40one year that now we are ready with our
54:42records now we have implemented all the
54:45manual whatever is required for getting
54:48ISO 9001 14,001 so then we can go for uh
54:53imple uh for getting that certification
54:55right so you can see almost 60% of
54:59Fortune 500 companies are using balance
55:01scorecard
55:03right so some uh obviously criticisms
55:06are also there lack of well- defined
55:08strategy the basic Assumption of score
55:10balance scorecard is you should have one
55:13strategy which is the heart of this
55:15complete framework right so always
55:18because strategy is something you are
55:21judging the environment you are
55:23analyzing the environment and then you
55:24are developing so that means envir
55:26enironment is changing your strategy
55:28will keep on changing so how you will
55:30align that too much focus on lagging
55:32measures always you are talking about
55:34where you are lagging how you can
55:36improve but we are maybe during that
55:39time we may miss the opportunity with
55:41our strengths already we are very good
55:44with our strengths but we are too much
55:46focused on lagging measures so that way
55:48maybe we'll miss that and we are using
55:51some generic Matrix because if your
55:53player industry player is using maybe
55:56same competitor still you can get some
55:59some of the kpis but all kpis may not be
56:03applicable for all the players right if
56:06you are somewhere producing 15% F your
56:10uh the player who is working in that
56:11industry maybe somewhere ensuring 5% F
56:15how you can compare directly with 5% so
56:18you need to set you know those levels
56:21right and sometimes maybe managers were
56:24getting those Awards they are you know
56:27manipulating these things so that
56:29short-term performance can be managed
56:31and then they can get those reward this
56:33is one case where you can see Southwest
56:36Airlines they used number of balance
56:39scorecard but what I'm talking about
56:41here is they use that score balance
56:44scorecard for uh recording the ground
56:47crew performance and they they wanted to
56:49lower down the cost and they how they
56:52can load on the cost if they can ensure
56:55the fast ground turn around how quickly
56:58you can do that indigo is another very
57:01best example where the major of the you
57:04know industry players per plane they are
57:06maintaining 180 employes to 200 employes
57:09indigo is managing with 90 to 100
57:11employes ground stuff I'm talking about
57:14how quickly they are doing the you know
57:16ground turnaround and how they can save
57:19this because you need to implement that
57:22system so first you need to know where
57:24you are as for those parameters maybe
57:27you need to train your ground staff
57:29right and if you are talking about
57:31always the financial measure maybe the
57:33people who are working with the finance
57:34department accounting department it will
57:36make more sense but what about those
57:39people who are working with R&D today
57:41they are coming up with model maybe
57:43tomorrow they may not be able to
57:44commercialize that what will happen with
57:46that prototype so it's not that it
57:49should be discouraging that you are not
57:50adding any value maybe after 10 years
57:54they are coming with some unique unique
57:56product unique technology can you know
57:59leverage for next 20 years right but
58:02directly connecting them with the
58:03financial measures is not possible for
58:06same goes with the manufacturing also
58:08whatever you are manufacturing you never
58:10you cannot relate means quickly you need
58:13that sometimes you need to make multiple
58:15changeovers if all the time I'm thinking
58:17about the cost maybe I may not be able
58:20to provide the variety right so because
58:22variety will take time to change over so
58:25then so that means it will not make
58:28sense for the for the person who is
58:30working in the manufacturing department
58:32so that means if you want to improve
58:35overall you need to improve the
58:37perspective from all the Departments not
58:40only financial measures non Financial
58:42measures should also be there and we can
58:44come up with One dashboard where the top
58:47management can only just those
58:48parameters and can say this department
58:51is doing Fair good or we are lagging
58:53with some points right so that they can
58:56work on right so obviously we are
58:59working to satisfy the customer needs in
59:01a more profitable way customer
59:03experience should be enhanced but then
59:06we need to measure both the financial as
59:09well as non-financial measures we should
59:11not forget the services uh offered by
59:15different functional units like
59:18Administration Services distribution
59:19services maintenance services
59:21maintenance what maintenance department
59:23is doing just maintaining the equipment
59:26cannot you cannot relate how much profit
59:28we are getting out of that but you just
59:30imagine if our main machine is down for
59:3330 minutes everything is gone your
59:36production is gone that those machines
59:38are working thanks to the fin uh your
59:41maintenance team because they are
59:42maintaining it properly so this we have
59:46seen how we can you know include all the
59:49different stakeholders using the balance
59:51scorecard approach so in the next
59:53session we'll continue this discussion
59:55and we'll try to develop the balance
59:57scorecard specifically for the supply
59:59chain uh industry right so these are
1:00:02some of the references we'll continue
1:00:03this discussion in the next session
1:00:05thank you very much

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