OKR template to achieve significant cost reduction in metal fabrication
Your OKR template
One prime initiative focuses on identifying potential frugal manufacturing strategies, followed by their orchestration and consistent scrutiny. Eventually, it proposes to cherry-pick the top three most feasible procedures for their enforcement.
Another goal is to rationalize the procurement costs for raw materials by a significant 15%. Initiatives under this objective entailed devising an extensive negotiation policy bearing cost-cutting aims, researching competitive cost suppliers for the necessary raw materials and initiating contract discussions with chosen suppliers.
Lastly, the OKR converges on decreasing waste material in fabrication by 20% as a measure to economize. To meet this objective, initiatives include a review and optimization of manufacturing procedures to curtail waste, investment in waste-cutting technology or apparatus, and the provision of efficiency training concerning material to the fabrication crew.
ObjectiveAchieve significant cost reduction in metal fabrication
KRIdentify and implement at least 3 cost-effective fabrication methods by the end of the quarter
Research potential cost-effective fabrication methods- Implement and monitor the selected methods
- Select three most viable methods for implementation
- KRNegotiate supply contracts for raw materials to lower purchase costs by 15%
- Prepare detailed negotiation strategy with cost reduction targets
- Research suppliers for competitive pricing on required raw materials
- Initiate contract negotiations with selected suppliers
- KRReduce waste material in fabrication by 20% to save costs
- Review and optimize fabrication processes to minimize waste
- Invest in waste-reducing technology or equipment
- Implement training on material efficiency for fabrication staff
How to edit and track OKRs with Tability
You'll probably want to edit the examples in this post, and Tability is the perfect tool for it.
Tability is an AI-powered platform that helps teams set better goals, monitor execution, and get help to achieve their objectives faster.
With Tability you can:
- Use AI to draft a complete set of OKRs in seconds
- Connect your OKRs and team goals to your project
- Automate reporting with integrations and built-in dashboard
Instead of having to copy the content of the OKR examples in a doc or spreadsheet, you can use Tability’s magic importer to start using any of the examples in this page.
The import process can be done in seconds, allowing you to edit OKRs directly in a platform that knows how to manage and track goals.
Step 1. Sign up for a free Tability account
Go tohttps://tability.app/signup and create your account (it's free!)
Step 2. Create a plan
Follow the steps after your onboarding to create your first plan, you should get to a page that looks like the picture below.
Step 3. Use the magic importer
Click on Use magic import to open up the Magic Import modal.
Now, go back to the OKR examples, and click on Copy on the example that you’d like to use.
Paste the content in the text import section. Don’t worry about the formatting, Tability’s AI will be able to parse it!
Now, just click on Import from text and let the magic happen.
Once your example is in the plan editor, you will be able to:
- Edit the objectives, key results, and tasks
- Click on the target 0 → 100% to set better target
- Use the tips and the AI to refine your goals
Step 4. Publish your plan
Once you’re done editing, you can publish your plan to switch to the goal-tracking mode.
From there you will have access to all the features that will help you and your team save hours with OKR reporting.
- 10+ built-in dashboards to visualise progress on your goals
- Weekly reminders, data connectors, and smart notifications
- 9 views to map OKRs to strategic projects
- Strategy map to align teams at scale