Abstract:
The purpose of this research is to develop a performance measurement system based on Balanced Scorecard (BSC) for a plastic injection factory as a case study. The set of key performance indicators (KPIs) was established to measure performance at corporate level and the Pearsons correlation coefficient was also investigated to identify the relationships of all KPIs among four perspectives.
The performance measurement based on BSC was developed by working team setting followed by organization evaluation, review the vision, set organizations targets, establish strategy map, set KPIs and objectives and then implementation. The performance data is collected for a period of 12 months and then correlation analysis is used to investigate the relationships of KPIs.
After implementation, the results show that the organization is able to achieve the targets of 15 KPIs from 18 KPIs in total which means 83.33% achievement while comparing with the traditional system, the KPIs met the targets only 52.17%. Then it can be concluded that there is 31.16% improvement. From correlation analysis, it showed that there are relationships between the set of KPIs from financial perspective, customer perspective and internal process perspective while learning and growth perspective has no relationship with the other perspectives at significant level 95%.