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What are Operations Management OKRs?
The OKR acronym stands for Objectives and Key Results. It's a goal-setting framework that was introduced at Intel by Andy Grove in the 70s, and it became popular after John Doerr introduced it to Google in the 90s. OKRs helps teams has a shared language to set ambitious goals and track progress towards them.
OKRs are quickly gaining popularity as a goal-setting framework. But, it's not always easy to know how to write your goals, especially if it's your first time using OKRs.
We've tailored a list of OKRs examples for Operations Management to help you. You can look at any of the templates below to get some inspiration for your own goals.
If you want to learn more about the framework, you can read our OKR guide online.
The best tools for writing perfect Operations Management OKRs
Here are 2 tools that can help you draft your OKRs in no time.
Tability AI: to generate OKRs based on a prompt
Tability AI allows you to describe your goals in a prompt, and generate a fully editable OKR template in seconds.
- 1. Create a Tability account
- 2. Click on the Generate goals using AI
- 3. Describe your goals in a prompt
- 4. Get your fully editable OKR template
- 5. Publish to start tracking progress and get automated OKR dashboards
Watch the video below to see it in action 👇
Tability Feedback: to improve existing OKRs
You can use Tability's AI feedback to improve your OKRs if you already have existing goals.
- 1. Create your Tability account
- 2. Add your existing OKRs (you can import them from a spreadsheet)
- 3. Click on Generate analysis
- 4. Review the suggestions and decide to accept or dismiss them
- 5. Publish to start tracking progress and get automated OKR dashboards
Tability will scan your OKRs and offer different suggestions to improve them. This can range from a small rewrite of a statement to make it clearer to a complete rewrite of the entire OKR.
Operations Management OKRs examples
We've added many examples of Operations Management Objectives and Key Results, but we did not stop there. Understanding the difference between OKRs and projects is important, so we also added examples of strategic initiatives that relate to the OKRs.
Hope you'll find this helpful!
OKRs to streamline and optimize company's resource management
ObjectiveStreamline and optimize company's resource management
KRIncrease team productivity by 20% through effective resource scheduling and planning
Implement resource planning software to track productivity- Streamline scheduling system for optimized team workflow
- Train staff on effective time-management strategies
- KRAchieve a 15% decrease in operational cost via resource allocation optimization
- KRReduce resource waste by 25% through implementing lean management techniques
- Conduct lean management training for all team members
- Initiate process mapping to identify waste areas
- Implement lean management recommendations
OKRs to enhance and streamline our risk management processes
- ObjectiveEnhance and streamline our risk management processes
- KRIdentify and document at least 30 potential risks impacting our business operations
- Document all identified risks in a risk register
- Categorize each risk and its potential impact
- Conduct a comprehensive risk identification process
- KRImplement risk mitigation strategies for 100% of identified top-priority risks
- Identify and prioritize all potential risks within the operation
- Develop appropriate countermeasures for top-priority risks
- Implement and monitor these mitigation strategies consistently
- KRAchieve a 20% decrease in operational disruptions due to better risk management
- Implement risk management training for all operational employees
- Introduce proactive maintenance system to avoid disruptions
- Regularly review and update risk management strategies
OKRs to ensure financial efficiency at Wonderfly Arena
- ObjectiveEnsure financial efficiency at Wonderfly Arena
- KRReduce item reordering costs by 15% with improved inventory management
- Implement a real-time inventory tracking system
- Train staff on efficient inventory management
- Negotiate bulk purchasing deals with suppliers
- KRAchieve a 5% reduction in overall operational expenses by streamlining processes
- Regularly review and optimize these processes
- Implement streamlined processes to cut costs
- Identify areas of operational inefficiency
- KRDecrease staffing costs by 10% through effective scheduling and training
- Review and eliminate unnecessary overtime payments
- Implement an efficient staff scheduling software for optimal personnel utilization
- Conduct regular training sessions to improve employee productivity
OKRs to enhance risk management and business support systems
- ObjectiveEnhance risk management and business support systems
- KRDevelop action plans to minimize identified risks by 25%
- Identify potential risks within the current operations
- Develop strategies to counteract each identified risk
- Implement these strategies effectively at all operational levels
- KRImprove 3 current business support strategies based on risk analysis results
- Optimize existing contingency plans using risk analytics results
- Revise support strategy based on highest probable risks
- Implement risk mitigation tactics based on identified vulnerabilities
- KRImplement a risk identification process for 80% of business operations areas
- Define the scope of business operations for risk assessment
- Conduct risk identification training for employees
- Develop risk identification strategies for specified areas
OKRs to increase cost management efficiency for people and operations
- ObjectiveIncrease cost management efficiency for people and operations
- KRImplement cost tracking system to monitor and analyze spend across departments
- Train department heads in cost tracking system usage
- Launch system and begin monitoring departmental expenses
- Select cost tracking software suitable for our business needs
- KRTrain managers on cost management best practices to mitigate overspending
- Follow-up on training effectiveness and changes
- Identify experts to guide practice implementation
- Arrange cost management training seminars for managers
- KRReduce operational costs by 10% through process optimization and automation
- Conduct a thorough assessment of current operational processes
- Implement process optimization and automation strategies
- Identify inefficiencies and areas for automation
OKRs to improve time management and task prioritization
- ObjectiveImprove time management and task prioritization
- KRIncrease productivity by completing 90% of priority tasks
- Minimize distractions by creating a focused work environment
- Use time blocking techniques to allocate dedicated time for priority tasks
- Set clear and specific goals for each priority task
- Prioritize tasks based on urgency and importance
- KRDevelop a daily schedule that ensures adequate time allocation for important tasks
- Regularly review and adjust the daily schedule to ensure optimal time allocation
- Minimize distractions by setting boundaries and establishing designated work areas or times
- Allocate specific time blocks for each important task in the daily schedule
- Identify and prioritize important tasks based on urgency and importance
- KRReduce time wasted on low-value activities by 50%
- Identify low-value activities through a comprehensive analysis of daily tasks
- Delegate low-value activities to appropriate team members for increased productivity
- Implement time management techniques, such as prioritizing tasks and setting realistic deadlines
- Continuously review and optimize processes to eliminate or automate low-value activities
- KRAttend time management training to learn effective techniques
- Research and find a suitable time management training program
- Enroll in the selected time management training course
- Implement and practice the learned time management techniques consistently
- Actively participate and engage in all training sessions
OKRs to optimize currency trading operations within the Treasury
- ObjectiveOptimize currency trading operations within the Treasury
- KRReduce trade-related loss by 10% through improved analytics
- Conduct bi-weekly assessment of current trade analytics results
- Train employees on updated analytics tools and interpretation
- Implement more advanced analytics software to track trade activities
- KRAchieve 5% higher trade yield by innovative risk management
- Develop a comprehensive risk management strategy
- Train team in advanced risk assessment techniques
- Implement new trading algorithms and AI tools
- KRIncrease trade volume by 20% by refining trade strategy
- Develop improved strategy based on data analysis
- Analyze performance data of past trade strategies
- Implement and monitor the new strategy
OKRs to boost gross margin in warehouse operations
- ObjectiveBoost gross margin in warehouse operations
- KRImprove warehouse inventory turnover rate by 20%
- Implement an efficient automated inventory management system
- Conduct regular stock evaluations and adjustments
- Train staff on inventory turnover improvement strategies
- KRIncrease efficiency of warehouse processes by 15% using lean methodologies
- Monitor, assess and improve warehouse processes regularly
- Train staff on efficiency-enhancing techniques and procedures
- Implement lean methodologies for streamlined warehouse operations
- KRImplement a 10% reduction in non-essential operational expenses by quarter-end
- Review all non-essential expenses in detail
- Develop and enforce a budget reduction plan
- Identify areas for potential cost cuts
OKRs to improve lab coat inventory management system
- ObjectiveImprove lab coat inventory management system
- KRImplement a digital tracking system for real-time inventory status
- Train staff on using the new system
- Install the system and integrate with existing infrastructure
- Research and choose a suitable digital inventory tracking system
- KRReduce stock discrepancies by 20% through timely and accurate inventory updates
- Implement a real-time inventory tracking system
- Train staff on accurate stock counting procedures
- Schedule regular inventory audits and reviews
- KRAchieve a 15% decrease in oversupply by optimizing reorder levels
- Analyze and improve supplier lead times
- Implement an inventory management system
- Review and adjust current inventory reorder levels
OKRs to successfully optimize a contract operations project
- ObjectiveSuccessfully optimize a contract operations project
- KRImplement optimizations in top-priority area and achieve 20% efficiency increase
- Monitor and ensure 20% efficiency increase
- Develop and implement efficiency improvement strategies
- Identify top-priority area requiring optimization
- KRIdentify and prioritize 5 potential areas for improvement by end of Week 3
- Rank the areas based on urgency and potential impact
- Identify 5 areas in need of improvement within the operations
- Analyze the importance and impact of each area
- KRDocument the optimization process with insights to guide future projects
- Create a guide based on insights for future projects
- Analyze and record insights gained from the optimization
- Document all steps taken during process optimization
Operations Management OKR best practices
Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.
Here are a couple of best practices extracted from our OKR implementation guide 👇
Tip #1: Limit the number of key results
The #1 role of OKRs is to help you and your team focus on what really matters. Business-as-usual activities will still be happening, but you do not need to track your entire roadmap in the OKRs.
We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.
Tip #2: Commit to weekly OKR check-ins
Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to get the full value of your OKRs and make your strategy agile – otherwise this is nothing more than a reporting exercise.
Being able to see trends for your key results will also keep yourself honest.
Tip #3: No more than 2 yellow statuses in a row
Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples above). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.
As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.
Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.
Save hours with automated OKR dashboards
OKRs without regular progress updates are just KPIs. You'll need to update progress on your OKRs every week to get the full benefits from the framework. Reviewing progress periodically has several advantages:
- It brings the goals back to the top of the mind
- It will highlight poorly set OKRs
- It will surface execution risks
- It improves transparency and accountability
We recommend using a spreadsheet for your first OKRs cycle. You'll need to get familiar with the scoring and tracking first. Then, you can scale your OKRs process by using Tability to save time with automated OKR dashboards, data connectors, and actionable insights.
How to get Tability dashboards:
- 1. Create a Tability account
- 2. Use the importers to add your OKRs (works with any spreadsheet or doc)
- 3. Publish your OKR plan
That's it! Tability will instantly get access to 10+ dashboards to monitor progress, visualise trends, and identify risks early.
More Operations Management OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to improve data analysis efficacy in higher education using Workday
- OKRs to enhance efficiency in administrative roles
- OKRs to improve self-serve onboarding
- OKRs to broaden understanding of royalty components in contracts
- OKRs to establish a new vertically integrated business line
- OKRs to strengthen and maintain stakeholder relations through effective communication