Dynamic Benchmarking, a provider of customised online benchmarking and reporting solutions based in New Hampshire, USA, has announced the launch of a new interactive survey and data reporting tool for use by the Powder Metallurgy Parts Association (PMPA) of the Metal Powder Industries Federation (MPIF). The web-based platform modernises a long-standing financial performance study to better serve the needs of individual members and the industry as a whole by simplifying data collection, analysis and reporting.
MPIF selected Dynamic Benchmarking to automate the data collection and analysis process for the PMPA Annual Financial Performance Survey. This comprehensive study collects financial, operational, injury and illness, compensation and sustainability data from PMPA members. The survey and its resulting reports have been longstanding member benefits for over 25 years.
“The Annual Financial Performance Survey has long been an integral part of the PMPA value proposition,” stated Jim Dale, Vice President of Member and Industry Relations for MPIF. “In recent years, member involvement has far surpassed simple participation and grown into an industry partnership where member input has extended into the continued improvement of the study.”
Prior to the Dynamic Benchmarking platform, the study was conducted via email with data consolidated and manipulated using spreadsheets to create a series of static reports and graphs that were distributed to members on disks. While comprehensive, the process was daunting and time consuming and the ability to provide customised reports was not feasible.
“We wanted a simpler, less manual process and we found that, and more, with Dynamic Benchmarking,” added Dale. “We’re hopeful that once our members experience how simple and robust this program is, participation in the study will increase.”
In addition to collecting data for fiscal year 2014, the new benchmarking platform will archive previous years’ data securely online, offering members the added benefit of on-demand access to that information.