All companies monitor internal metrics in order to meet prescribed level(s) of operational performance. Energize this effort by incorporating a Benchmarking and Best Practices process that utilizes external performance data and improves your awareness of what defines a top performer.
Leading companies will also often search for “best practices” by companies that prove to operate in the top quartile of key operational areas and use this information to guide decisions on their priorities and capital allocation.
For a decade, Tompkins has supported Benchmarking and Best Practices Consortiums that consist of a group of more than 350 participating companies. The Consortium groups include one tailored for “Shippers” and one for “Logistics Service Providers” (3PLs). Both groups operate using the same comprehensive, information-packed database and the same user-friendly interface.
The Consortium database is accessed through a secured web browser interface that offers a variety of exclusive tools to access composite data to compare against your supply chain performance. The self-generated reports allow you to compare your operations against peers and best-in-class companies and against others in your industry.
The database and tools also support your important research efforts when looking for the “best practices” that drive top performers, or when searching for a new solution. By identifying which technology tools and processes are used by leading companies, our Consortium members can determine what drives the results at these companies and use this as one more key input to support decisions on improving operational performance.
Membership in the Tompkins Supply Chain Consortium for benchmarking and best practices provides networking opportunities with those who have similar interests, experiences and questions. It provides your company with measurable benefits, including:
- Ensuring meaningful scorecards with key performance indicators across all areas of your supply chain;
- Identifying performance measurements in comparison to best-in-class companies;
- Helping identify and understand how your operating practices compare to your competition, and best-in-class performers, to help define and prioritize improvement programs;
- Broadening the thinking of the management team and the operations group to include issues beyond the individuals’ immediate responsibilities; and
- Providing breakthrough insights by looking across performance measures, processes, relationships, infrastructure, requirements, and more.
To find out more about the Consortiums and how they can improve your competitive edge as a shipper or 3PL, visit the Tompkins Supply Chain Consortium website today.