KPI-based Performance Measurement Framework/Approach for Lean Implementation in Mining Industry

Mining industry forms the backbone of a nation’s economy. It contributes significantly towards growth of a nation. With continuous increase in demand for mineral resources, the mining industry is expected to witness a decent growth in the coming years. This growth will bring many more challenges for the industry. In an industry where safety, efficiency and productivity are crucial to profitability, even small incremental changes in key parameters (KPIs) using new system / process & framework can make a big impact. Lean is one of the most important process improvement initiatives taken up by many mining organizations. Many of the initiatives have failed because of multiple reason. One of the principle causes of failure for many process improvement initiative is the inability of the organizations to assess, evaluate and present significant metrics or Key Performance Indicator (KPIs). KPI-based frameworks play very important role in monitoring & tracking of businesses and process improvement initiatives. This paper evaluates the importance of KPI-based measurement framework for lean implementation in mining