When was the last time you benchmarked your manufacturing operation against your competition? Are you aware of how your revenue stacks up against your peers? If you have not used benchmarking, it can be difficult to know how to price your products.
We all read a lot about “big data” and analytics, as well as lean manufacturing (lean). But how do these concepts apply to the key role that benchmarking – internal and external – plays for manufacturing and distribution businesses?