Simulation Model of Chemblends Company
Performance measures
The performance measures considered in the organization are depending on the demand
measures of the products produced by the ChemBlend organization. Overtime
...
Simulation Model of Chemblends Company
Performance measures
The performance measures considered in the organization are depending on the demand
measures of the products produced by the ChemBlend organization. Overtime the changes of
measuring the performance in the organization are making use of the qualitative and quantitative
measures to achieve the desired long and short term goals when evaluating the demand of the
management within the firm. The approach of the firm in aiming use of the simulation to
measures the demand of the management has made it easy to predict the future perspective of the
organization (Ahmad & Chen, 2018). In the process, there is evaluation of the demand on an
assortment quantities factors such as utilization, delay threshold and reject rates. The
nonfinancial information in the organization has led to the significant management for the firm.
The measurements are emphasizing on the past feedbacks always based on the financial
statements and current activities in the organization with the aim of evaluating activities
influencing the future performance of the organization. For the company to succeed, the rejects
in the management process should be reduced and operate like a tined machine. ChemBlend
should therefore be monitoring the internal evaluation and evaluating then ensuring they are
achieving strategic goals of the organization.
The internal measures of the firm should be entailing measurement of the internal
production and utilization of the firm products maximizing the sales and reducing the rejects. For
this objective to be achieved, the customer’s perspectives need to be considered. The company
should be measuring well its activities with the customers while considering variables such as
new customers, referrals and customer sa
[Show More]
