On April 15th, WMCO hosted an open online networking event that featured guest speaker Sepp Gmeiner, Partner at Lignum Consulting, to talk about Industry Benchmarks and how your company is performing compared to the industry.
Breaking down facts from opinions…
Gmeiner described the significance of how benchmarking is a valuable tool for manufacturers to compare their productivity, efficiencies, and quality as a company with data points and examples and a measure of profitability relative to the cost of doing business.
“If you don’t measure something, you cannot have a clear answer on what you are doing.” The presentation sampled P&L financial statements of wood manufacturers, data on the productivity of cabinet shops, and the distribution of highly productive companies vs. less productive cabinet shops.
(Above) Sepp Gmeiner presenting industry benchmarking dataContinuing, Gmeiner provided performance metrics guidelines for those that want to begin or enhance their KPIs. Additionally, there was a discussion of opportunities for wood manufacturers to develop a collective benchmarking knowledge database.
About the Guest Speaker:
Sepp Gmeiner is a graduate of Advanced Wood Processing, University of Applied Science, Rosenheim Germany and Engineering Economics, University of Applied Science, Pforzheim, Germany. Gmeiner is the CEO of Lignum Consulting Canada, a key trainer for the WMCO’s Lean training alongside Brad Cairns, and a regular contributor to Woodworking Canada magazine.
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