1. Who will see my data?
Only members of our 3-person
benchmarking team will see your data without your written
permission. Your data are stored by ID number, not name. We
do not make or keep a copy of your report. We do document
any revisions to your data and how we select your comparison
group.
Click to view our
confidentiality policy.
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2.
Who will I be compared to?
This depends whether you are getting a
customized report or an industry report (see next question).
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3. What is the difference
between a customized and an industry report?
"Customized" reports compare
your performance to a subset of 20 or more other
manufacturers with a similar business profile, which
subject to database coverage limitations -- takes into
account: sector, size, unit price, volume, design role, mix
of processing and assembly, and order mix. "Industry"
reports compare your performance against every manufacturer
completing the same industry questionnaire.
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4. I saw a retail price; I thought it was free
for Michigan companies. Is this true?
Yes. Michigan companies are eligible to
receive one free report, per year, per plant, thanks to
funding from the Michigan Economic Development Corporation
(MEDC). Once a year, between February 1st and March
15th, MMTC replenishes its Performance Benchmarking database with
the latest years data. During this brief window, free
"industry" reports are offered to manufacturers through
national industry associations. The company or trade
association must sign up before February 15th and return its
completed questionnaire by March 25th.
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5. How long are the questionnaires?
Depending on your industry, the
questionnaires are between 4 and 6 pages in length.
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6. What if I dont currently track that
information? Can I guess?
We understand that you may not get regular
reports that supply all of the data we ask for. We need you
to make a distinction. If you have no idea about an answer,
do not guess - just leave it blank. If you have a pretty
good idea and can make an educated estimate -- e.g., you
dont track total setup time across all machines for the
year, but you know that you do about 10 setups per month per
machine and that those setups average about 40 minutes --
then we want you to calculate 10 machines x 10 setups x 12
months x 0.667 hours and enter 800 hours.
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7. What do I receive in exchange for my
companys data?
Everyone that completes a questionnaire
receives a confidential Performance Benchmarking report. Every report
begins with an executive summary, followed by: a listing and discussion
of strengths and weaknesses vis-a-vis the comparison group,
a detailed graphical display of your facilitys performance
compared to the rest of the group, a profile of the
comparison group, and appendices that summarize all measures
data and show you which questions go into calculating each
measure. Click to view a sample report. |
8. My company is unique. Can you really
benchmark my company?
Yes. Our benchmarking analysis is
better the more companies like yours we have in the database. We
also have a method that makes it possible to do a good job for
every plant. First, all of our questionnaires have a core of
common questions, permitting benchmarking across industries.
Second, we have done extensive research which proves that,
for most metrics, industry explains less of the variance in
performance than does a combination of unit price, volume,
design role, mix of processing and assembly, and order mix.
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9. What is the process? How long will it take to
get my report?
If you are submitting data
in the February - March time window to get a free industry report,
then you will receive your report in late May, when we have
digested all of the new data. If you are submitting data to
get a paid (except in Michigan) customized report, then:
-
You complete the appropriate questionnaire
and mail or fax it to MMTC - Performance Benchmarking.
- Data are entered and checked to make sure
that they are clean and consistent. If there is a problem
with the data, the company and/or its agent
(if completed
through an assistance center or consultant)
receives a call or e-mail to clarify the problem.
- MMTC's Performance Benchmarking staff searches
its dataset to look for a group of companies that are
similar to the respondent. This group usually consists of companies with similar product line, customer base, piece
price, order volume, design role, and mix of processing and
assembly.
- The company or its agent is contacted to
make sure the comparison group is acceptable.
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The report is mailed, or if you prefer,
emailed as a .pdf file.
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It usually takes no more than two weeks from the time we
receive the questionnaire until we mail out the report.
Turnaround is much faster (often 2-3 days) if the data are clean
and we can promptly contact the appropriate person to get
clarification of any data inconsistencies. We accept rush orders
for a $50 fee. Re-runs of reports initially based on inaccurate
data are available for a $100 fee.
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10. What if we do more than one process? Are in
more than one industry?
In the first few questions, we seek a lot of
detail about what you make and how you make it. This is
especially important if you have a complex, multi-operation
business. If, for example, you make small stampings, but
also make and sell (i) some larger stampings that are welded
into assemblies and (ii) some large stamping dies, you would
fill out our Metalforming questionnaire. We would compare you
not only to makers of small stampings but
also to stampers handling a mix of small and larger
parts (distinguished by price), companies doing some assembly
(distinguished by labor time spent on that), and stampers
that also build dies. |
11. Why do you ask for detailed financial data?
We need just enough financial data to
calculate your Cost of Goods Sold (COGS). We need this for
two metrics that companies have told us they must have: gross
margin (sales less COGS as a percent of sales) and inventory
turns (COGS divided by average inventory stocks). We dont
ask you for COGS, though. We build it up from nine questions
that also support more than a dozen other metrics.
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12. Will my trade association or competitors
know that Im benchmarked/see my data?
Your trade association will be given, if
they ask, a list of participants. (They usually want to know
so that they can call non-participants to urge them to
participate next time.) Neither your association nor any other
company - competitor or otherwise - will ever know how you
answered any question or how you are rated on any measure, nor
will companies participating know which other companies took
part.
Click to view our confidentiality policy.
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13. What do you do with the data? How is my
company data used?
We have two purposes for the data: (1) to
generate a useful report for you, and (2) to do research that
answers many versions of the same question: Whats
different about companies that grow and make a lot of money? We
encourage any and all
manufacturers and organizations assisting manufacturers to
make use of our Performance Benchmarking data.
Click for more
information on use of data.
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14. Do I have to submit data to get a report?
There is no way to get a free benchmarking
report from us without submitting data. For $100 over the
retail price of a report (i.e., $695), a company may
purchase a one-year-out-of-date industry report.
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15. Can I get more information / Contact someone
about benchmarking my company?
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