Business News
Printing Industries Press Provides New Financial Benchmarking Guide
Wednesday 22. April 2009 - Today's print market is as competitive as ever, and printers must continually strive to improve performance in order to maintain success.
However, to improve performance, it’s important to first measure the effectiveness of current operations. To that end, Printing Industries Press is proud to offer the newest edition of Managing by the Numbers, which provides benchmarks and key performance indicators derived from the latest Printing Industries of America programs such as the Ratios, Productivity Benchmarks, compensation and benefits surveys, and the sheetfed benchmarking program.
Tracking past performance using benchmarking is essential, and an organization must also have the means to compare themselves to the industry’s best. This edition of Managing by the Numbers, compiled by Printing Industries of America’s Economics and Market Research Department, is a resource that provides the information to do just that.
The benchmarks presented within this report are grouped by four categories:
Sales benchmarks
Financial and cost benchmarks
Production and factory benchmarks
Human resource management benchmarks
These exclusive key benchmarking metrics were chosen because they have the most significant impact on a firm’s overall performance and profitability. Therefore, the value of this resource can be substantial if used properly. A company must use these metrics to identify weaknesses within their organization; however, the firm must then make the necessary operational changes.
“In these tough economic times, key management metrics are even more important. Managing by the Numbers provides printers with just the metrics they need to understand their performance and to benchmark it with their peers. As someone once said, before you can solve a problem, you have to define and measure it. Managing by the Numbers does this for printers by defining key performance metrics, showing how they can be measured, and allowing printers to determine their strengths and weaknesses,” explains Ronnie H. Davis, Ph.D., vice president and chief economist at Printing Industries of America.
Managing by the Numbers, 46 pages, (Item No. 18322, ISBN 978-0-88362-658-0) is available to Printing Industries of America members for $20 and to nonmembers for $30. This product is also available in PDF format.