IMTS spark: Drivers of Revenue and Profit Margin at Top Shops
Gardner Business Media's Chief Data Officer Steve Kline shares insights and trends from over a decade of the Top Shops benchmarking program.
Steve Kline discusses benchmarking and Top Shops with senior editor Matt Danford.
Every Tuesday in October, Modern Machine Shop is hosting the Shop Talk Educational Series as part of IMTS spark. IMTS spark is a comprehensive digital destination powered by AMT – the Association For Manufacturing Technology and MMS publisher Gardner Business Media. The Shop Talk series includes educational conference presentations and panel discussions.
The first Shop Talk session, “Key Drivers of Revenue and Profit Margin at Top Shops,” was presented by Senior Editor Matt Danford and Steve Kline Jr., chief data officer at Gardner Business Media. They share some of what Gardner Intelligence has learned in more than a decade of benchmarking surveys, and they discuss the latest trends and insights discovered from this year’s Top Shops benchmarking program.
Benchmarking is done by Gardner Intelligence, using data from all the previous Top Shops surveys, which were taken by more than 3,000 shops. It applies sophisticated modeling techniques to determine what drives performance at successful machining businesses. Specifically, it shines light on what drives high margin, gross sales per machine and gross sales per employee. Business owners can find out how their companies stack up and how to better their shop operations and investments for a successful future.