Professional Retail Store Maintenance 2018 Trends Report - 17

DYNAMIC BENCHMARKING™ (DB)
SIMPLIFIES THE BENCHMARKING
PROCESS. IT PROVIDES A CONFIGURABLE,
FLEXIBLE, WEB-BASED PLATFORM THAT
CAN BE USED TO ASSESS A WIDE RANGE
OF BENCHMARKING TOPICS.

It would be difficult to identify
trends in retail facilities management
without benchmarking. As one adage
reads, "You can't know where you are
going until you know where you have
been." Benchmarking has been used
for decades. However, the dynamic
benchmarking reporting capabilities
available today could potentially save
the FM industry millions and drive
trends as companies adapt, based upon
actual data, to evolving issues identified
by benchmarking.

BENCHMARKING OF OLD
The term "benchmarking" was
originally used by land surveyors to
identify a fixed point from which all
other measurements were made. In
the 1950s, benchmarking referred to
the process of reverse engineering -
tearing things apart, examining them,
improving them, and putting them back
together.
In the late 1970s, the term took
on the broader definition of "the
systematic process of searching for
best practices, innovative ideas and
highly effective operating procedures
that lead to superior performance1."
Today, data derived from benchmarking
is used to improve process and

strategy both inside and outside of direct
competition and on a global scale.
Benchmarking opens minds to new
ideas, validates assumptions, and places
organizations in a continuous mode
to evolve and improve. Sometimes
benchmarking can drive home harsh
realities about a business by raising
questions such as "Which metrics are
we behind in?" and "Where are we
lacking technologically?" or "How do
we compare to the industry average?"
Benchmarking's true value is clearly
visible when it's combined with a plan
for improvement.
FM has used benchmarking for years.
However, its true capabilities were
limited due to the lack and amount of
comparable data available from similar
companies. Retail store maintenance
programs were often compared against
hotels, hospitals, schools and other
non-competitor, "box-type" type
facilities. While useful to identify major
efficiency gaps, it lacked the ability
to make actual comparisons between
virtually identical operations.

BENCHMARKING TODAY
PRSM has produced numerous
benchmarking reports over the years
focused on a wide array of topics

ranging from sourcing practices to
HVAC maintenance, refrigeration, etc.
However, while valuable, these reports
lacked dynamic reporting capabilities
as well as the ability to deliver ever
improving, ongoing reports based upon
a database that improves in accuracy
as more companies participate in
perpetual benchmarking.
Dynamic Benchmarking™ (DB)
simplifies the benchmarking process.
It provides a configurable, flexible,
web-based platform that can be
used to assess a wide range of
benchmarking topics. This platform
provides a one-stop solution for data
collection, interactive peer comparisons
and personalized reporting.
Unlike old pen-and-paper
benchmarking that was permanently
linked to a specific benchmarking
survey time frame, DB allows
companies to continue entering data
online over time which dramatically
improves accuracy.
Users can immediately compare
their answers to the aggregated
database of participants or to a subset
of businesses they define using an
intuitive filtering mechanism. To
prevent the identification of a specific
retailer or supplier, comparisons are
www.prsm.com I 2018 TRENDS REPORT I 17


http://www.prsm.com

Table of Contents for the Digital Edition of Professional Retail Store Maintenance 2018 Trends Report

What’s Driving Retail Trends – Retail Transitions From Ecommerce to Newcommerce
The Skills Gap Crisis
A New Era of Retail
Making the Mark
FM Tech Trends – Tapping Into Tomorrow Today
Direct to the Customer – Retailers Streamline Fulfillment
Contributors
Advertisers’ Index
Professional Retail Store Maintenance 2018 Trends Report - Intro
Professional Retail Store Maintenance 2018 Trends Report - cover1
Professional Retail Store Maintenance 2018 Trends Report - cover2
Professional Retail Store Maintenance 2018 Trends Report - 3
Professional Retail Store Maintenance 2018 Trends Report - 4
Professional Retail Store Maintenance 2018 Trends Report - 5
Professional Retail Store Maintenance 2018 Trends Report - 6
Professional Retail Store Maintenance 2018 Trends Report - What’s Driving Retail Trends – Retail Transitions From Ecommerce to Newcommerce
Professional Retail Store Maintenance 2018 Trends Report - The Skills Gap Crisis
Professional Retail Store Maintenance 2018 Trends Report - 9
Professional Retail Store Maintenance 2018 Trends Report - 10
Professional Retail Store Maintenance 2018 Trends Report - 11
Professional Retail Store Maintenance 2018 Trends Report - A New Era of Retail
Professional Retail Store Maintenance 2018 Trends Report - 13
Professional Retail Store Maintenance 2018 Trends Report - 14
Professional Retail Store Maintenance 2018 Trends Report - 15
Professional Retail Store Maintenance 2018 Trends Report - Making the Mark
Professional Retail Store Maintenance 2018 Trends Report - 17
Professional Retail Store Maintenance 2018 Trends Report - 18
Professional Retail Store Maintenance 2018 Trends Report - 19
Professional Retail Store Maintenance 2018 Trends Report - FM Tech Trends – Tapping Into Tomorrow Today
Professional Retail Store Maintenance 2018 Trends Report - 21
Professional Retail Store Maintenance 2018 Trends Report - Direct to the Customer – Retailers Streamline Fulfillment
Professional Retail Store Maintenance 2018 Trends Report - 23
Professional Retail Store Maintenance 2018 Trends Report - 24
Professional Retail Store Maintenance 2018 Trends Report - Contributors
Professional Retail Store Maintenance 2018 Trends Report - Advertisers’ Index
Professional Retail Store Maintenance 2018 Trends Report - cover3
Professional Retail Store Maintenance 2018 Trends Report - cover4
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