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Key Performance Indicators and Targets

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Knowing what key operating parameters to monitor and defining the targets and limits for these parameters is an important step for profit optimization. We also need to know the economic values of closing gaps between actual and targeted performances to create incentives for improvement. This chapter deals with how to identify the key performance parameters in running the plant and the whole process is explained with a real‐life commercial plant case study. It provides a methodology to identify qualitatively potential areas of opportunities. The system of key indicators is the cornerstone of a sustainable profit management system.

Profit Maximization Techniques for Operating Chemical Plants

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