As this slide indicates, the majority of IndustryWeek Best Plants finalists and winners over the five years 2012-2016 were publicly held manufacturing facilities. This reflects the overall profile of all entrants as well.
Additional demographics of these 2012-2016 finalists and winners: 69% of the plants were 20 years old or older; 53% operated five days a week; 74% were non-union; and 58% were discrete operations.
Are You Benchmarking
Are you looking for stellar performers and benchmarking your facility's performance against theirs? Among the IW Best Plants finalists and winners, an average of eight major benchmarking studies were conducted in the past year.
The IW Best Plants competition entry form doesn't request this degree of detail, but the hope is that some of those benchmarking studies are from outside of your company's plants, and even outside of your industry.
IndustryWeek's manufacturing glossary describes first-pass yield as the percentage of finished products that meet all quality-related specifications at a final test point. When calculating yield for components, the percentage that meets all quality-related specifications at a critical test point without being scrapped, rerun or reworked. In process industries, yield often is calculated as the percentage of output that meets target-grade specifications (excluding saleable "off-grade" product).
The average first-pass yield over the past five years of winners and finalists is 95.4%.
Are you looking for improvement ideas from the people most likely to know where the operational challenges lie? The IW Best Plants winners and finalists do. The median number of suggestions offered by employees annually over the past five years is two.
The amount of on-the-job training provided by the IW Best Plants winners and finalists for production workers varies widely; however, the average over the past five years is 51.1 hours.
In general, IndustryWeek Best Plants winners and finalists demonstrate safety metrics that are better than the industry average. When it comes to OSHA recordables with days away from work, that general statement holds true. On average, the IW Best Plants winners and finalists reported numbers that were 57.3% of the industry average.
Your customers expect you to deliver on time, and you should expect your suppliers to deliver on time as well. As the data show, IW Best Plants winners and finalists know their suppliers deliver. Over the past five years, an average of 91.9% of their supplier orders were delivered on time, and the median is even higher at 95% delivered on time.
Value Stream Mapping Adoption
Value stream mapping is a visualization tool used to document the flow of information and processes required to produce a product (or service) and deliver it to the customer. In lean transformations, it is used to map, analyze and help drive improvements to that flow. Approximately two-thirds of IW Best Plants winners and finalists over the past five years have widely adopted the practice of value stream mapping.
Manufacturing Cycle Time Reductions
Benefits accrue if you can improve your manufacturing cycle time, defined here as the time of actual production from when a customer order is released to the plant floor for a particular product through to the completion of all manufacturing, assembly, and testing for that specific product. The IndustryWeek Best Plants winners and finalists know and appreciate this fact. The 2016 group reported having reduced their cycle time by an average of nearly 24% over three years.
How much raw materials inventory is optimal? It depends on a lot of factors, including your supplier lead times, your manufacturing cycle time as well as your own ability to produce quality product. Regardless, inventory is expensive, as is the warehousing required to house it. The average days on-hand of raw materials inventory among the IW Best Plants winners and finalists is 36.5 days, with the 2016 group reporting an average of 23.4 days.
Looking for a smaller city to start your business? A new report, 2018’s Best Small Cities to Start a Business, by WalletHub compared 1,261 cities across three key dimensions: 1) Business Environment, 2) Access to Resources and 3) Business Costs.