Real time modeling for financial and performance management

As cement companies look to improve their operations in the face of ever increasing global pressure and competition, continuous improvement programs whether formal or informal have been undertaken by companies in an effort to remain competitive and improve their competitive position. To ensure that continuous improvement projects and initiatives are adding value to the company, a real-time performance measurement system must be coupled with continuous improvement programs. A proper Real-Time Performance Measurement System providing business intelligence is critical to showing the value of projects to the company, recovering investment as soon as possible and ensuring the strategic nature of initiatives and projects in a timeframe, resolution and reach that make sense. It brings together the proper elements of finance, strategy, and operations to effectively measure performance, provide timely feedback to the right people, and enable performance improvement. In this paper, we will present a methodology and the basic components necessary to develop a real-time performance measurement system that can be used in continuous manufacturing industries to measure and enable performance improvement. To the extent possible, representative plant data, processes, etc. will be used to demonstrate this.