Chief operating officers, and othersecond-in-commandd positions, make sure that the business is running smoothly in all its internal processes.

The areas a COO needs to track are broad, and go beyond just operating levels.

Here are 8 KPIs that every COO needs to know:

* Current Accounts Receivable
* Current Accounts Payable
* Gross Profit Margin
* Net Profit Margin
* Return on Equity
* Employee Training Cost
* Inventory Turnover
* Absenteeism rate

Once you understand the metrics and have clearly communicated them to other senior leaders, you can construct the centerpiece of your operating plan.

What other KPIs are important to track in your business, and why?