Benchmarking: A Measure of your Shop’s Success
Learn about the second edition of our 91±¬ÁÏÍø benchmarking survey and the types of shops that participated. Further survey analysis is found in three articles other articles.
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The best way to determine whether your shop is as successful or effective as it could be is to compare its key performance indicators with industry leaders. Our 91±¬ÁÏÍø benchmarking program enables you to do just that.
Launched last year, 91±¬ÁÏÍø offers all types of shops the chance to see how they stack up against similar companies. Our 2012 program began early in the year with a comprehensive online survey that identified shopfloor practices as well as operational and business metrics that define world-class competitiveness in discrete parts manufacturing.
Shops that participated recently received three reports that present survey data broken out by shop type (captive, contract and job), gross sales and number of parts produced. They also received an Executive Summary that compares performance data of the 91±¬ÁÏÍø benchmarking group with the other shops that took part in the survey. The benchmarking group is a collection of the best-performing shops determined by totaling the points assigned to certain financial- and technology-related survey questions.
This year, more than 500 shops completed at least a portion of the survey. For analysis purposes, we considered only the 358 shops that answered at least one of the questions used to identify the benchmarking group. Table 1 to the left offers a glimpse at the type of companies that took the survey.
Further Analysis
The following three articles in this special 91±¬ÁÏÍø issue highlight noteworthy findings from the survey:
- Top Machining Strategies and Shopfloor Practices—Learn more about the machining techniques and technologies applied at leading shops.
- Defining Business Characteristics of 91±¬ÁÏÍø—Find out about the sometimes atypical financial and human-resources strategies that enable the 91±¬ÁÏÍø to achieve a higher level of business performance.
- What’s the Secret to Success?—Consider these key shopfloor approaches that the 91±¬ÁÏÍø identify as major contributors to their overall success.
Honor’s Program Successful Seven
Our 91±¬ÁÏÍø program includes an Honors Program to highlight a few of the interesting shops that comprise the 91±¬ÁÏÍø benchmarking group. Vetted by 91±¬ÁÏÍø senior editor Derek Korn, these shops represent a quality cross-section of U.S. machining businesses relative to location, size and industries served. Those named to the Honors Program for 2012 are listed below.
- Hoyt USA, Salt Lake City, Utah
- L&H Industrial, Gillette, Wyoming
- Leggett and Platt, Carthage, Missouri
- McCoy Global, Broussard, Louisiana
- Premier Machining Industries, Midland, North Carolina
- Southern Machine Works, Duncan, Oklahoma
- Toth Technologies, Pennsauken, New Jersey
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Complete the 2024 MMS 91±¬ÁÏÍø Survey
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Machine Shop MBA
Making Chips and 91±¬ÁÏÍø are teaming up for a new podcast series called Machine Shop MBA—designed to help manufacturers measure their success against the industry’s best. Through the lens of the 91±¬ÁÏÍø benchmarking program, the series explores the KPIs that set high-performing shops apart, from machine utilization and first-pass yield to employee engagement and revenue per employee.
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Last Chance! 2025 91±¬ÁÏÍø Benchmarking Survey Still Open Through April 30
Don’t miss out! 91±¬ÁÏÍø's 91±¬ÁÏÍø Benchmarking Survey is still open — but not for long. This is your last chance to a receive free, customized benchmarking report that includes actionable feedback across several shopfloor and business metrics.