Burn Multiple Formula (BMF) is a methodology used by businesses to maximize the efficiency of their operations. It involves analysing performance indicators, understanding customer feedback and analyzing customer behavior data in order to set achievable objectives for the business. By breaking down the ‘burn rate’ – the amount of time required to complete specific tasks or processes – into small measurable chunks, it becomes easier to identify which areas might need improvement and focus resources where they are most needed. This ultimately leads to greater level of productivity and better results for the business. BMF is an invaluable tool for anyone looking to make sure their business runs as efficiently as possible.
Want to find out more about procurement?
Access more blogs, articles and FAQ's relating to procurement
