Operations managers are highly dependent on a productive workforce. However, they need highly accurate and effective data to achieve their main goals. The most important data at the disposal of highly effective operations managers should incorporate factors such as the measurement of individual and team employee performance; the use of dash boards and reports that highlight saving potential and an accurate projection of the company’s labor needs. Operations managers can manage their employees effectively by making use of objective performance data. This makes them have a deeper understanding of how their employees are performing. They can make use of metrics to empower them to have real time feedback on the performance of each individual employee in the organization. This will help them control staffing levels and reduce production costs. They can make use of metrics tools and save time analyzing data which gives them more time to practically engage themselves in the production process (Easy Metrics, 2018).
Metrics are measures dealing with the quantitative evaluation of performance or production. They can be used to make performance or production comparisons between different companies or organizations. The triple bottom line is an accounting principle that entails different aspects of performance in an organization such as financial, social, and environmental factors. This is a different accounting approach as it involves additional aspects that include the environmental and social aspects of business. It is commonly known as the 3Ps representing people, planet and profits. This approach can be used by operations managers in an organization to enhance sustainability. The triple bottom line approach is used to highlight sustainability in an organization by measuring its impact in the world. This has to do with its shareholder value, its profitability, and its social, environmental and human capital. However, the most important thing about the triple bottom line approach is not in defining it but rather measuring it (Slaper and Hall, 2011).
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Each metric has a special role to play in the financial performance of any organization. An organization’s environmental impact can be quantified through the assessment of how limited resources are consumed, the quality of water and its availability, and pollution. This is, more or less, associated with the welfare of an organization’s workforce and the surrounding community, at large. Social metrics play the role of assessing issues such as the safety of workers, community health, diversity, and the quality of education. Organizations that factor these metrics in their balance sheets have a higher chance of being successful because they become more efficient, competitive, and innovative. These are factors which drive profitability in the long run. Such organizations are associated with efforts of making the planet a better place to live in. This is because they operate in an ethical manner by taking good care of its employees and the people that they serve. The pursuance of environmental and social objectives simply reinforces an organization’s financial objectives (Ramsey, 2012).
The most appropriate data that can be used by operations managers to support this metric should entail a total understanding on the productivity of individual members of the workforce, their competencies, and welfare. They should also be able to know the needs of their customers and their environment. This will go a long way in improving the sustainability and profitability of the organization. To ensure that the data is of sufficient quality an organization needs to do a proper and professional market research with regards to the needs of its target consumers to enable it to meet those needs. This can be done through questionnaires, interviews, and tests to know the impact of its goods and services in the market. It can also depend on performance reports of its workforce to know the productivity of individual employees and how to improve their productivity. The data provided by these programs can be used to improve the productivity and profitability of the company using the triple bottom line metrics (Tyson, 2010).
References
Easy Metrics. (2018). Operations Management. Retrieved from:
https://www.easymetrics.com/operations-management/
Ramsey, C. (2012). Utilizing the triple bottom line as sustainability metrics . Adec
Innovations. Retrieved from: https://info.esg.adec-innovations.com/blog/bid/236248/utilizing-the-triple-bottom-line-as-sustainability-metrics
Slaper, T. and Hall, T. (2011).The Triple Bottom Line: What Is It and How Does It Work?
Indiana Business Review . Vol. 86, no. 1. Retrieved from: http://www.ibrc.indiana.edu/ibr/2011/spring/article2.html
Tyson, M. (2010). Why the Triple Bottom Line Matters More Than Ever . Green Biz.
Retrieved from: h ttps://www.greenbiz.com/blog/2010/01/08/why-triple-bottom-line-m atters-more-ever
