An Executive Guide to Performance Benchmarking

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Measure to improve

Extract from our Executive Guide.

A healthy supply chain is fundamental for business success. If not a revelation, it is a realisation that has well and truly dawned for companies of the recession generation. Whilst the world has certainly got much smaller, it has also become more complex, which means a real understanding of your supply chain is ever more critical. Making big decisions without full understanding of your supply chain is obviously a very risky business. Performance benchmarking allows you to identify precisely where you are – in absolute terms, and in relation to your competitors and peers – so you can then plan where you want to be, and how to get there. And the benefits need little explanation: improved customer service; increased productivity and efficiency; reduced cost, inventory and waste; lower capital requirement; enhanced portfolio development and management; reduced environmental impact; and improved competitive advantage.

  

 

"Providing best in-class service can halve your supply chain costs"

    
 
Whatever the industry, an optimised supply chain can be the difference between those organisations that succeed and those that do not. But if you don’t know how well you are performing, or what best-in-class performance looks like, how do you know where you can improve, or by how much? Ignorance is not bliss; in fact it’s a very dangerous practice. If your competitor’s supply chain is delivering better service than yours, you’ll find out eventually but unless you take the initiative, it might be the hard way. Critically, benchmarking your supply chain performance will allow you to identify performance gaps and provide a financial evaluation of the gains that can be made off the back of improvement action. And you can expect the potential savings to be many times the cost of benchmarking itself; gains typically run to £millions.

 

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