eesti teaduste
akadeemia kirjastus
SINCE 1952
Proceeding cover
of the estonian academy of sciences
ISSN 1736-7530 (Electronic)
ISSN 1736-6046 (Print)
Impact Factor (2021): 1.024
Key performance indicators: contemporary challenges to industrial small and medium enterprises; pp. 399–406
PDF | 10.3176/proc.2021.4.05

Rūta Banelienė

The paper investigates key challenges to the successful management of industrial small and medium enterprises (SMEs) under conditions of globalization and provides a model for successful evaluation and monitoring of SME activities. The proposed model is universal and could be applied by industrial SMEs with modest effort for developing databases such as product/material, equipment and production, as well as for measuring and monitoring the suggested key performance indicators (KPIs) in nine value chains: 1) inbound logistics; 2) operations; 3) outbound logistics; 4) marketing & sales; 5) service; 6) human resources management; 7) technology development; 8) procurement; 9) sustainability. The first three value chains serve as a cornerstone of all KPIs for the ʻhouseʼ of an industrial SME, while marketing & sales, and service value chains are intended to measure a companyʼs success via sales. Procurement KPIs should focus on measuring and monitoring the stock level as continuous flow, which would secure smoothness in all the operations of the company. However, special attention should be paid to human resources management, innovations and sustainability by setting and monitoring KPIs within the whole timeframe – the present, past and future.


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