Measuring and Improving Operational Performance in Business

The video tutorial discusses how businesses can maintain competitiveness by improving productivity and efficiency through operational data. It covers labor productivity, unit costs, and capacity utilization, highlighting the challenges and considerations in measuring these metrics. The tutorial emphasizes the importance of using these measures as internal guides rather than direct comparisons with competitors.

What is the primary goal of businesses in maintaining competitiveness in the market?

How can businesses improve their operational performance throughout the supply chain?

What factors influence labor productivity in a business?

Why is it important to measure productivity relative to other companies in the market?

What is the significance of calculating unit costs for a business?

How does capacity utilization reflect a business's performance?

What challenges do businesses face when measuring productivity?