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.

2. Who will I be compared to?

This depends whether you are getting a customized report or an industry report (see next question).

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.

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.

5. How long are the questionnaires?

Depending on your industry, the questionnaires are between 4 and 6 pages in length.

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.

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.

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.
• The report is mailed, or if you prefer, emailed as a .pdf file.

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.

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.

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.

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.

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.

15. Can I get more information / Contact someone about benchmarking my company?