By Steve Banker July 24, 2017
Companies love benchmarking data. Its use helps “appropriately” reward managers and line level employees, set tactical improvement targets, and even drive strategic initiatives. Bad benchmarking data gives companies the illusion they are running their business professionally. It is often the opposite; bad benchmarking often leads to poor decisions.
Good benchmarking does exist but is relatively rare. For example, setting labor productivity goals in the warehouse based upon on time studies or predetermined time systems is robust. So is Chainalytics Freight Market Intelligence Consortium (FMiC) which provides for sound lane/rate freight benchmarking. [Full Story]