The benefit of taking our Top Shops benchmarking survey at MMSTopShops.com is the summary data report we’ll provide. The report will include data for all 39 questions on the survey, but we’ll also separate the data into categories so you can make apples-to-apples comparisons of like businesses. Data will be categorized by the type of machining business (job shop, contract shop or captive operation), revenue level and number of employees.
To hire a company to gather and report this type of business intel—culled data related to specific shop practices and performance levels—wouldn’t be cheap. The only investment we require for our benchmarking initiative is a bit of your time and company information. Individual company information will remain confidential.
So once you receive the report, what do you do with it? Well, in some cases, you either already know or have a good idea about your company’s primary deficiencies. If that’s the case, you can immediately look at the data related to that aspect of the business and compare it to other shops. On the other hand, you might not have a solid notion as to where you lag other shops. The data will reveal those areas. For example, you may unexpectedly find that your turnover rate is much higher than comparable shops. That should spur you to find out why and determine if it’s a contributing factor to whatever business pains you’re experiencing. Identify the areas in which the difference between your shop and the top-performing shops are the greatest, and then consider what you might do to close the gap.
We plan to make this benchmarking survey an annual event. By participating each year, you’ll be able to go back and track whether the efforts you’ve taken based on past survey results are contributing to significant change in a given area. Leverage the benchmarking data to bolster your continuous improvement efforts and spur success in the years to come.
Click here to take the Top Shops benchmarking survey. We estimate that the survey will take approximately one hour. You also have the option of printing the survey and mailing or faxing it to us. Be aware that the survey closes February 15.