Have you ever wondered where you stand versus your peers? Take a lesson from manufacturing.
As a former food processing plant manager, I always wondered about my plant and our operations. What were other similar plants doing? How were they performing? A portion of our internal metrics included a comparison of the “best of the best” and the “worst of the worst” plants as it pertained to safety, plant efficiency, product quality and safety, sustainability, completed shipments and on-time delivery, to name a few. But how did other plants in the industry compare? What about my direct competitors?
The Aberdeen Group recently surveyed 170 food and beverage manufacturers in regards to production efficiency, product quality, and sustainability costs. Here are some highlights captured from the study:
- Leaders in the food and beverage industry reported a 20% higher Overall Equipment Effectiveness (OEE), 47% fewer delayed shipments as a result of quality issues, and 5% reduction in waste to landfill. Download the infographic
- Followers experienced an increase in energy consumption and zero change to wastewater costs, while leaders saw double digit improvements.
The gaps between the leaders and followers are pretty impressive—creating an opportunity to learn what the leaders are doing to stay ahead. What made some companies more successful than others? What were the key factors that drove operational excellence? Why did some companies outperform while others lag?
The bottom line is that the leaders surveyed are employing operational excellence initiatives WITH software technology. They’re digitizing their production processes to turn information into actionable insight—combining people, process and technology to move the operational excellence needle in the right direction. Leaders in the study ultimately outperform planned margin goals by 9%. What would that mean to your business?
Find out if you’re a leader or a follower. Check out a copy of the full report