UK Accounting Glossary
Quantified measures of factors that help to measure the performance of the business effectively.
Key business statistics such as number of new orders, cash collection efficiency, and return on investment (ROI), which measure a firm’s performance in critical areas. KPI’s show the progress (or lack of it) toward realising the firm’s objectives or strategic plans by monitoring activities which (if not properly performed) would likely cause severe losses or outright failure.
You should be monitoring your key performance indicators to assess if performance is going as well as it should be.
There are no KPIs currently in place for product returns neither is any provisions requiring the company to keep data on the subject.
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Definitions for Key Performance Indicators are sourced/syndicated from:
This glossary post was last updated: 23rd December 2018.