Operational efficiency — a company's ability to deliver products or services with the best cost, quality, and speed ratio — has traditionally been seen as the foundation of competitiveness. However, in the context of digital transformation, geopolitical instability and accelerated technological cycles, the importance of operational efficiency has gone beyond cost reduction. In an unstable external environment and increasing competition, operational efficiency is becoming one of the key factors for the company's sustainability and competitiveness. The article examines the theoretical foundations of operational efficiency, analyzes modern approaches to the development of its indicators and substantiates the need for their adaptation to the specifics of the industry, business model and digital maturity of the organization. Based on international and Russian research data, the most relevant KPIs have been identified, reflecting the productivity, quality, speed and flexibility of operational processes. Statistical data confirming the correlation between the level of operational efficiency and the financial results of the business are presented. Recommendations on the system design of a balanced system of operational efficiency indicators are formulated. It is concluded that the development of operational efficiency indicators is not a technical, but a strategic task that requires a deep understanding of the business model, value flows and the external environment.