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I would say that objectives are the perfection you are aiming for and the targets are the steps towards that perfection. So in your case an objective may be "to minimize delivery time" and then your targets may be something like "3 days" or "on time 99% of orders".
Remember you should also look at your measurements. Having one indicator may not be enough to get the true picture. You have 99 order for 100 dollars shipped on time and one order for 1,000,000 shipped 100 days late. You've hit your target but lost your most important customer! So the answer is you would have various different indicators and possibly weigting so as to give more importance to the million dollar order.
You are NOT required by the standard to achieve continual improvement only to aim for it. You wouldn't get a noncompliance if figures for one period showed a performance decline.
In practice as you improve performance in one area you will almost inevitably find a decline in other area. You hire more staff and now ship out on time 100%. But your payroll has increased and your profits suffer. In the end management are going to have to do what they're hired to do, make decisions. What is the right balance between shipping time and payroll for them, Maybe fast shipment means more customers so profit increases.
Anyway, the key point about objectives is we know what we're trying to do ie the purpose. You have defined shipping time as a quality criteria for your product. Whether you want to have targets is up to you.
Remember you should also look at your measurements. Having one indicator may not be enough to get the true picture. You have 99 order for 100 dollars shipped on time and one order for 1,000,000 shipped 100 days late. You've hit your target but lost your most important customer! So the answer is you would have various different indicators and possibly weigting so as to give more importance to the million dollar order.
You are NOT required by the standard to achieve continual improvement only to aim for it. You wouldn't get a noncompliance if figures for one period showed a performance decline.
In practice as you improve performance in one area you will almost inevitably find a decline in other area. You hire more staff and now ship out on time 100%. But your payroll has increased and your profits suffer. In the end management are going to have to do what they're hired to do, make decisions. What is the right balance between shipping time and payroll for them, Maybe fast shipment means more customers so profit increases.
Anyway, the key point about objectives is we know what we're trying to do ie the purpose. You have defined shipping time as a quality criteria for your product. Whether you want to have targets is up to you.
As for the specific Chrysler requirements, if you're being audited against them, you should probably know what they are, no?
