Business improvement specialists Oliver Wight EAME has released a new guide to performance benchmarking this week, revealing a new strategy which claims to help organisations provide the ‘best in-class service’ and halve their supply chain cost.
The guide, which is aimed at organisations with an end-to-end supply chain, is designed to provide an insight into the benefits and methodology behind supply chain benchmarking for business success.
Performance benchmarking has been recently hailed as the saviour of ailing companies, who are encouraged to monitor the performance of others to uncover areas for improvement.
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The strategy compiles a range of results from different companies to establish industry bests or best practices from others in their sector. Typical dimensions measures are quality, time and cost, and these measurements allow companies to directly compare themselves to others and find out their areas of weakness, therefore enabling them to set precise targets for the future.
Oliver Wight Partner, Jerry Shanahan, explained:
“Benchmarking has become an essential tool in today’s business environment. Whatever your industry, an optimised supply chain is vital for delivering excellent customer service, reducing costs and gaining that competitive advantage. But unless you know how well you are performing and what best-in-class looks like, you won’t know where you can improve or by how much.”
The Executive Guide to Performance Benchmarking can be downloaded from the Oliver Wight website, or for more information contact Zoe Davis on +44 (0) 1452 397 209
About Oliver Wight:
Oliver Wight, the largest consultancy of its type, has built up 40 years of knowledge collected onto a database, where companies can benchmark themselves against other organisations. The company’s supply chain benchmarking system helps provide a financial evaluation of the gains than can be made following improvements, in addition to highlighting performance gaps. This system is recognised globally by thought leaders in Integrated Business Planning and Supply Chain Design and Optimisation.