Sharpen Your Pencils: Participate In ‘Top Shops' Benchmarking Survey

Plastics Technology magazine and parent company Gardner Business Media have opened their annual Top Shops Benchmarking survey of injection molders. Results from the free, anonymous survey will be reported in the October 2023 issue of Plastics Technology, and molders who complete the questionnaire will receive a customized report compiled by Gardner Business Media’s Gardner Intelligence unit. These reports will show the participants how their individual facility ranked against the collective survey results.

Now in its seventh year for Plastics Technology, Top Shops is a benchmarking and recognition program designed to help molders understand, measure and assess how their business compares with similar businesses. Gardner Intelligence's Top Shops programs are the only source of benchmarking data collected via online surveys to cover four main business pillars, including operations, technology, business strategy, and human resources. All U.S. molding operations, regardless of size, industries served and location, are encouraged to participate.

The in-depth survey measures a variety of manufacturing metrics for the facility reported, including scrap rate, order lead time, capacity utilization, on-time delivery rate, quality, capital spending, customer retention, sales per employee, sales growth, profit margin, inventory, machine uptime, wages, labor turnover, supply-chain practices, marketing practices, certifications and more. The survey also asks, among other things, profile questions like industries served, as well as materials, processes, tooling types and inspection technology used.

Each shop that completes the survey receives a customized report showing responses they entered along with anonymous responses from other participating shops. This relative read indicates how other shops are performing, often providing evidence that higher levels of performance are attainable. The report also indicates which metrics stand out for a shop so they can be sure to maintain their strengths.

Selected questions are scored and summed per participating shop to determine which ones are designated Top Shops. Top Shops typically represent the top 20% of scores.
 

What’s in it for Me?

Molders that participate in the Top Shops survey get:

 •  Custom Benchmarking Report: Using your report, you can assess the effectiveness and efficiency of your manufacturing operations, identify optimal shop-floor practices and gain insight to apply in your strategic planning.

 •  Top Shops Status: One of the most coveted and prominent accolades in the industry today, being a Top Shop recognizes those who perform the best and have business practices to be emulated.

 •  Consideration to be Selected to Receive Special Recognition: Up to four Top Shops will be selected to be honored for survey responses that set them apart. Selected shops receive an award package they can use to display in their shops and celebrate with their employees.

Notes Jan Schafer, who heads up the Top Shops program as director of market research for Gardner Intelligence, “It is human nature to be interested in knowing how your performance compares with that of your peers. Starting in the first grade, that perspective comes in the form of grades, an evaluation system that sticks for 12+ years. Top Shops recognizes the staying power of that all-important ‘relative performance’ aspect of human nature, offering a one-of-a-kind solution that delivers it for manufacturing.

“We hear at industry events, association meetings and shop visits that Top Shops data make for a key tool that is regularly considered in the development of shop strategies and action plans. An inherent bonus is that any shop participating in Top Shops may be designated a Top Shop or selected for special recognition. That is because questions are designed to create a level playing field so any shop can stand out on performance.

“In every way, Top Shops is designed for you. It is yours to leverage. Keep the feedback coming and we will continue to address the ways you tell us to make Top Shops optimally relevant and useful.”

Please follow Jan’s advice and head here (tinyurl.com/yw8x4uvnto) to begin the survey. You have until April 30 to finish.