Wood Flooring Manufacturer
Situation and Challenge
A manufacturer and distributor of flooring had recently undergone an initiative to improve overhead efficiency and costs. They believed that there was still room for improvement, but had no standard by which to measure their performance relative to others in the industry.
The company wanted to benchmark their performance to identify opportunities for continued improvement, set operating and financial targets and provide input for the upcoming budgeting process.
We performed a financial benchmark study of the company comparing their performance against the industry, peer groups and individual competitors.
The study highlighted both where the company was performing well and where there were still opportunities for improvement. It validated and quantified areas management believed could be improved and identified additional initiatives to enhance performance, including inventory, distribution, gross margins and expenses.
Management prioritized initiatives and allocated resources to execute on the action items. Efforts are on-going and will result in reduced inventory and expenses as well as a revamped go-to-market strategy.