Various manufacturing improvement initiatives start with a question; “how do we compare to our competition”; “which area has the biggest need for improvement”; “what KPIs (Key Performance Measures) does one compare on”; “what are the typical performance standards of our industry”; etc. In order to answer these questions and understand your performance against international companies within your given industry a manufacturing benchmark is required.
We at Fourier-E are passionate about unlocking value for our clients and through our many years of experience in the manufacturing industry, one of the main questions we help our clients answer is “how do they compare against their international peers”. We have come to see that the first step towards realising international competitiveness is quantifying your own performance and identifying potential improvement opportunities.
Our online benchmark platform enables automated data capturing and analysis in order to compare inputs with international best practice & companies, both within your industry. Our benchmarking scope is not only limited to manufacturing but also extends to other industries such as Banking, FMCG, Telecoms, Warehousing, Services, Retail and Agriculture.
The FE manufacturing benchmark framework analyses operations in terms of processes and operational performance and identifies the drivers which would enable a company to improve. It analyses all levels of the organisation over the elements of finance, product, production, people, layout and business strategy. The outcome will compare industry ratios such as OEE, TEEP, financial values (Net Sales, Conversion Costs, Material Costs etc.) against number of employees, delivery lead time on products, production volumes etc. so that a company can realise its status quo relating to operational performance. The benchmark will identify and quantify gaps in key business processes so that a company can make informed operational, tactical and strategic decisions in order to reach operational maturity.