Why is there value in a comprehensive dashboard?

A comprehensive dashboard itemizing metrics and there related risks is a valuable too for functional management. Why? Because it provides crucial data on not only what is happening directly in your functional area but also information from other functions on which you rely. These can be functions such as technology, supply chain, product development, facility management, and sales to name a few.

So what is the value for this information. let's consider a few examples:

1. Supply Chain - if you are in a manufacturing setting problems in procurement such as shortages or delays for crucial raw materials can adversely impact your production schedules. Sales can also be impacted as product availability can hamper sales and expected targets.

2. Product development - this can impact marketing, sales, and manufacturing operations. Delays in product roll out, inaccurate cost estimates, inaccurate product content information (utilized for labeling), products developed that do not meet target audience needs. These are a few issues that can impact these three related functions. For example, inaccurate cost estimates influence client pricing set by marketing. Sales targets for the new product could also be adversely impacted if initial pricing does not reflect the actual cost plus profit margin for a product. Features may be inappropriate for the target audience needs and expectations.

3. Facility Management - this has a significant impact on level one (core business functions) operations within an organization. When facilities, safety, and equipment are not properly maintained it can cause missed production schedules, employee/client safety issues, and inappropriate use of building space.

These are just a few examples of how a cross-functional dashboard can add value to managements performance. Traditional methods for managing in a silo are no longer acceptable or realistic in the current business environment. Today, businesses need to operate with a proactive style in order to gain competitive advantage, foster future growth opportunities, and increase profitability.