Luncheon with Dieter Huckestein: Measuring Performance With the Balanced Scorecard
ISM's 90th Annual International Supply Management Conference
San Antonio, Texas
Roberta J. Duffy
President, Hilton Global Alliance and Chairman and CEO Conrad Hotels
"Supply management has added great value for our company," said Hilton's Dieter Huckestein, who spoke on balanced scorecards. Hilton has five "balls up in the air," or constituents — team members, community, customers, strategic partners, and owners/shareholders — which is why a balanced scorecard is so important when seeking to change direction.
When implementing a balanced scorecard, he warned that the process is long, but worth the effort. "You have to have measurements in place," Huckestein explained, "otherwise it's no fun, because you have no score." What gets measured, he said, gets understood, gets managed, gets rewarded and ultimately gets improved.
Huckestein closed his presentation with these final words of supply management wisdom: stay balanced!
By Roberta J. Duffy, editor of Inside Supply Management®