Kaizen is a Japanese term for continuous improvement. This is important in manufacturing companies to improve processes and increase quality.
Key Performance Indicator
Key performance indicators (KPI) are metrics that are important to the success of an organization. These KPI’s are measured and tracked over time for continuous improvement. Examples of KPI’s would be financial ratios, sales trends, and profit goals.
The success of the KPI’s is picking a limited number of important metrics to focus on. KPI’s are based on the idea that “what gets measured gets done.”