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Definition Sheet for Key Figures
Key figures help to quantify facts and aggregate information. Especially in times of Industry 4.0, with the ever-increasing amount of data and information, it is crucial to aggregate this data into a few meaningful key figures.
In order to make the most of the positive impact on the company, it is important to use a uniform definition of a key figure at the respective company level or, better still, across the entire company. Key figure definition sheets help to standardise key figures. They describe them in detail and thus prevent misinterpretations. They also serve as a reference work that provides an overview of the key figures in the company as a whole in addition to defining the key figure. Furthermore, a key figure definition sheet systematises the process of creating key figures, as it encourages you to think carefully about the categories of the definition sheet and thus the key figure.
The LSM tool ‘Key Performance Indicator Definition Sheet’ is a template designed to assist you in creating your own key performance indicator standards. A key performance indicator definition sheet for OEE (Overall Equipment Efficiency) is provided as a sample.
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