Spreadsheet Model for Determining Adequate Performance Indicators of Production Management

  • Teodora Rajković University of Belgrade, Faculty of Organizational Sciences, Serbia
  • Lena Đorđević Milutinović University of Belgrade, Faculty of Organizational Sciences, Serbia
  • Danica Lečić-Cvetković University of Belgrade, Faculty of Organizational Sciences, Serbia

Abstract

Research Question: This paper presents a simulation model aimed at improving total adequacy calculation for performance indicators of the first phase of production management. Motivation: Defining a set of adequate performance indicators that are specific and highly important for the observed planning phase has a significant impact on the effectiveness of the production process management. The result of the developed model is the value of selected performance indicators adequacy. Consequently, it can be concluded whether defined performance indicators are essential for the observed phase or other performance indicators should be selected. The monitoring of defined performance indicators should provide complete information about the observed phase and improvement of the planning phase management. Idea: The main idea of this paper is to develop a user-friendly simulation model, in accordance with the basic principles of spreadsheet engineering, for improving the selection of adequate performance indicators. This model is intended for use in Small and Medium Enterprises (SMEs) for the improvement of production management. Data: The data used in the paper are grounded on the scientific articles, reviews and empirical studies, related to the performance and performance indicators in production management. The set of most adequate performance indicators based on a relevant literature review and used in the model, represents performance indicators for the planning phase that are the most suitable for SMEs. Tools: The simulation model is developed in a spreadsheet environment. The use of spreadsheet applications enables simple data entry, processing, editing, analyzing and output reports compiling. Findings: Simulation results show the overall efficiency of the developed model in the determination of adequate performance indicators. They influence overall adequacy of performance indicators on the observed phase. Contribution: The main contribution of this paper lies in the model developed to maximize the adequacy of the performance indicators, suitable for use in the production management of SMEs.

Author Biographies

Teodora Rajković, University of Belgrade, Faculty of Organizational Sciences, Serbia

Teodora Rajković, MSc, is a teaching assistant at the Department for Production and Services Management of the Faculty of Organizational Sciences, University of Belgrade. Her research interests are related to operations management, production and services management, key performance indicators, e-manufacture and e-service. The author has published more than 10 papers in national and international conference proceedings.

Lena Đorđević Milutinović, University of Belgrade, Faculty of Organizational Sciences, Serbia

Lena Đorđević Milutinović, PhD, is an assistant professor at the Department for Production and Services Management of the Faculty of Organizational Sciences, University of Belgrade. Her research interests include operations management, production and services management, spreadsheet engineering, spreadsheet management, material flow management, control systems, enterprise information systems and business applications. She has published over 70 papers in national and international scientific journals and conference proceedings, national and international scientific journals and conference proceedings chapters in national and international monographs, textbooks, and auxiliary teaching literature.

Danica Lečić-Cvetković, University of Belgrade, Faculty of Organizational Sciences, Serbia

Danica Lečić-Cvetković, PhD, is a full professor of Production and Services Management and e-Manufacturing at the Department for Operations Management, Faculty of Organizational Sciences, University of Belgrade. Her research interests and fields are related to operations management, production and services management, key performance indicators, e-manufacture and e-service. The author has published more than 100 papers in journals and conference proceedings in international and national journals and conferences. Since 2008, she is a member and leader of the MESA (Manufacturing Enterprise Solutions Association) group for the Republic of Serbia.

Published
2020-07-23
How to Cite
Rajković, T., Đorđević Milutinović, L., & Lečić-Cvetković, D. (2020). Spreadsheet Model for Determining Adequate Performance Indicators of Production Management. Management:Journal Of Sustainable Business And Management Solutions In Emerging Economies, . doi:10.7595/management.fon.2020.0011
Section
Articles