Reference no: EM133209120

Assignment:

Do you and your co-managers regularly study the benchmarking data on pages 5 and 6 of each year's Footwear Industry Report to see how well your company is doing? Do you consider the benchmarking information provided to be valuable? Why or why not? Cite three recent instances in which your examination of the benchmarking statistics has caused you and your co-managers to take corrective actions to boost company performance.

Our co-managers regularly analyzed the benchmarking data on pages 5 and 5 of each year's Footwear Industry Report to see how well our company was doing. We used the information presented in these reports to guide our actions throughout this competition. For instance, all along we used these reports to try to maintain our production costs minimal, and ultimately be the best-cost strategy company. In another instance, our marketing expenses were above the industry's average. We noticed it, and immediately made the corrective actions to boost our performance while minimizing our marketing expenses. Last but certainly not least, by analyzing the information presented under Selected Financial and Operating Statistics, our co- managers were able to focus on Days of Inventory and bring it down for the following year. As a result, we were able to bring it down from 85 days to 21 days, while the rest of the companies remained unchanged for the most part 1.