Top Shops 2017 Benchmarking Survey: Time is Running Out

Time is running out to complete the Top Shops benchmarking survey, which allows participating companies to compare their operations with others in the U.S.

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If you haven’t already, it’s time to complete the Top Shops benchmarking survey presented by PM’s sister publication, Modern Machine Shop. The survey closes on Feb. 28. Click here to take the survey. 

In its seventh year, the benchmarking survey is divided into four categories: machining technology, shopfloor practices, business strategies and human resources. Instead of asking for specific financial figures, the survey asks shops to supply financial measures as percentages, including net income per gross sales, annual sales growth rate and capital equipment expenditure per gross sales. All survey responses will remain confidential.

For each survey, a Top Shops benchmarking group is established, representing the top 20 percent of participating machine shops, determined by totaling the points assigned to select business- and technology-related questions.

After the survey closes, a total of four data reports are generated and provided. Three of these are sent only to participating shops. These cut the data into categories, including type of machining business (job shop, contract shop or captive operation), number of employees and number of parts produced. In addition, we create an Executive Summary, comparing responses between the Top Shops benchmarking group and the rest of the survey participants (survey participants receive a hard copy of this summary). That way, you can see how your shop’s key performance indicators, such as net profit, spindle utilization and so on, compare with industry leaders. You can also see what types of equipment, processes and strategies those top-tier companies are leveraging. Doing so will help identify and prioritize your future improvement efforts.”

Read “Top Shops Benchmarking by the Numbers” for a more detailed description of the survey. Also, visit the Top Shop Zone on the MMS website, and plan to attend the Top Shops Conference 2017 Sept. 6-7 in Indianapolis, Indiana.