search.noResults

search.searching

dataCollection.invalidEmail
note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
is submitted, Benchmarking Analytics assigns an ID number to it to keep the company’s name confidential; individual responses are never shared outside of the company, including with FEDA. This year’s addition of a separate survey for manufacturers is a first for the association’s annual benchmarking survey. Segmenting distributors and manufacturers will ensure respondents are being compared to like companies and that the survey questions better reflect their differing pressure points. Manufacturers are typically more concerned about the cost of labor and goods, for example. FEDA members that participate in the survey will not only


gain greater insight for their business, but will also improve the overall understanding of the industry. A larger sample size means more data points and members will be more likely to find similar companies they can be compared against. Through that comparison, members will be able to identify the areas where they’re exceeding industry standards – or where they may need to increase their focus to remain competitive. “The more participants the more ways we can segment the data,” Mackay notes. “The more we can whittle it down to companies that look like you, the more valuable it will be.”


Putting Benchmarking to Use Once the responses have been received, Benchmarking Analytics will compile a report for each participant. The Individual Company Financial Performance Dashboard, delivered as an Excel file, consists of several sections, including: an executive summary; a scorecard that rates the company on several factors; and detailed breakdowns that allow companies to drill into the data and measure their performance in such areas as employee productivity, financial ratios, trends, and income statements. In addition to comparing individual businesses against the


industry, the report that respondents receive will identify the benchmarks of high-profit companies – businesses that earn two to three times as much as the industry standard. Traditionally, one out of every four FEDA members is marked as a high-profit company, says Mackay, demonstrating the strength of the market and providing a blueprint for others to achieve the same success. “If one out of four can do it, then it should be a reasonable goal for the other three-fourths if you are in the same industry,” he says. The report will also help participants plan for the future. It includes a “What-If?” toolkit that enables users to tinker with the numbers, such as increasing prices by 1 percent or raising sales by 5 percent, and then see what impact that change would have on your company’s profitability. By arming FEDA members with this data, Mackay believes they will be able to better plan their strategy and pivot their business to manage the COVID-19 crisis. “Nobody has unlimited resources,” he says. “From benchmarking, you find out true industry benchmarks rather than [just going with] your best guess.”


Summer 2020 15


“The thing we know from the past – from the [Sept. 11 terrorist attacks] to the 2008 recession – is that some companies survive, maybe even thrive, better than others in all kinds of economic conditions. So when things go south, what do companies do to maintain profitability?”


— John Mackay Founder


Benchmarking Analytics


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68