Industry Best Practices for an International Air Freight Services Provider – A SpendEdge Case Study
Engagement Overview: A leading air freight services provider wanted to implement industry best practices to enhance organizational growth and boost efficiency. To identify and focus on key performance metrics in the transportation industry, the air freight services provider approached SpendEdge to devise a comprehensive approach that would help them identify and benchmark the industry best […]
A leading air freight services provider wanted to implement industry best practices to enhance organizational growth and boost efficiency. To identify and focus on key performance metrics in the transportation industry, the air freight services provider approached SpendEdge to devise a comprehensive approach that would help them identify and benchmark the industry best practices. A detailed quantitative analysis of various categories within the supply chain was carried out to identify and benchmark the industry best practices that would help them improve competitiveness.
About the Client:
The air freight services client was facing challenges in benchmarking the best practices in the transportation industry.
How did SpendEdge Help the Client?
- Step 1: Identified peer group practices
The first step revolved around the process of identifying the peer groups in the transportation industry. By doing so, the client was able to identify the standards of excellence for services and processes and then implement the required changes to reach the optimal industry standards.
- Step 2: Comparing and benchmarking the best practices in the industry
A detailed analysis of the gathered data helped the client to compare and benchmark the industry best practices. This enabled the air freight services provider to discover the extent to which their present performance lags when compared to the leading players in the industry.
- Step 3: Developed a comprehensive approach to continuously monitor and recalibrate the industry best practices
A three-step benchmarking model was devised to help the transportation industry client to continuously monitor and recalibrate the industry best practices. The incessant evaluation of the benchmarked industry best practices helped them in reinstituting the benchmarking process.
Moreover, the correct implementation of the above steps resulted in the development of realistic, clear-cut standards for the processes involved in the identification of best practices.
Key questions answered in this industry best practices benchmarking engagement include:
Benefits of the Engagement:
The industry best practices solution offered by our experts helped the air freight services provider devise a comprehensive three-step benchmarking model that enabled them to keep track of industry standards. It also helped them lower freight costs and enhance services to maximize customer satisfaction and retention. Our industry best practices experts worked as an extension of the firm to identify the success factors that uncovered major opportunities for improving air freight services.
Why incorporate industry best practices benchmarking?
It’s no secret that to improve organizational growth its essential to identify and implement the best practices prevalent in the industry. Benchmarking industry best practices is the key to improving performance and overall business growth. Adopting best practices also helps firms to fill skill gaps, encourage leadership, enhance organizational efficiency, and achieve sustainability.
However, to withstand growing competition, transportation industry players must adopt better strategies to deliver better results. Moreover, industry best practices benchmarking does not mean replicating what other competitors do, it helps organizations gain detailed insights into the acceptable industry standards.
As transportation firms start focusing on delivering top-notch customer experiences, industry best practices benchmarking becomes essential to stay a step ahead of competitors. Such an approach to drive organizational growth is as simple as comparing what your organization does to what the best in the industry are doing. Therefore, it is essential to evaluate the benchmarks on a periodic basis, in order to stay abreast of the constantly changing industry trends and best practices.
To know more about our industry best practices solution
- Industry Best Practices Benchmarking for a Leading Animal Feed Manufacturer Helps them Achieve Breakthrough Improvements in their Overall Performance
- Supplier Risk Analysis: SpendEdge’s Solution Helps a Renowned IT Company Deal with Supply Chain Disruptions