Benchmarking : A New Tool for Custom Coaters

Overview: Article states that custom coaters are able to gauge their business performance with benchmark testing. In present time of competition, one must keep many things in mind regarding the performance of business, competitor details, how to make investment in new equipment that could have the biggest payoff for the business. To know the solutions for all these points one has to consider an approach known as manufacturing process benchmarking. This paper focuses on manufacturing process benchmarking; it is a process that allows a company to make quantitative comparisons between its performance and the performance of a group of similar manufacturing companies. Each benchmarking study is designed around two key variables that reflect the objectives of the company commissioning the work: 1. The practices, metrics and measures that will be studied, 2. The composition of the comparison group. It focuses primarily on the activities that take place during manufacturing operations and measures levels of efficiency and productivity. Typical measures of interest to manufacturers include size and age of equipment, material throughput, labor requirements and degree of computerized operation. Information about how a company compares with the rest of the industry in these areas can lay the foundation for targeting improvements.

(Is this item miscategorized? Does it need more tags? Let us know.)

Format: HTML | Date: Jan 2003 | Pages: 1