How do you align print production cost benchmarks with your business goals and strategies?

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Print production cost benchmarking is a process of comparing your print expenses and performance with industry standards or best practices. It can help you identify areas of improvement, optimize your print processes, and align your print production with your business goals and strategies. In this article, we will discuss how to conduct print production cost benchmarking and how to use the results to achieve your desired outcomes.

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Arash Nikdast

Founder @ PrintLand.Marketing | Consultant and Executive of Digital Marketing and Online Advertising in Printing…

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1 Why benchmark print production costs?

Benchmarking print production costs can provide you with valuable insights into the performance of your print operations, how they stack up against your competitors or peers, and how they support your strategic objectives. Through benchmarking, you can assess your print efficiency, quality, and service levels, identify cost drivers and opportunities for savings, evaluate your print vendors and service agreements, align your print budget and resources with your business needs and priorities, and monitor your progress over time.

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Arash Nikdast

Founder @ PrintLand.Marketing | Consultant and Executive of Digital Marketing and Online Advertising in Printing Industry | Web-to-Print Solutions | Digital Marketing | Online Printing&Packaging | University Instructor |
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Aligning print production cost benchmarks with business goals and strategies involves a comprehensive approach that integrates cost management with strategic planning. Firstly, it's essential to understand the current cost structure of print production, including materials, labor, and overheads. This understanding allows for the identification of areas where costs can be optimized without compromising quality. Next, set clear benchmarks that reflect both industry standards and your company's financial targets. These benchmarks should be realistic, achievable, and aligned with the broader business objectives, such as increasing market share or enhancing customer satisfaction.

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2 How to benchmark print production costs?

In order to benchmark print production costs, you must collect and analyze data on your print activities, expenses, and outcomes. This can be done through various sources, such as print invoices, receipts, and reports from vendors or internal departments; print management software, tools, or systems; surveys, audits, or assessments; and industry reports, publications, or databases. Additionally, you can use different methods or approaches for benchmarking such as internal benchmarking (comparing costs and performance within different departments), competitive benchmarking (comparing costs and performance with competitors), functional benchmarking (comparing costs and performance with similar functions or processes), and best-in-class benchmarking (comparing costs and performance with industry leaders).

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3 What to benchmark in print production costs?

To benchmark print production costs, you must first decide which aspects of your print operations to measure and compare. You can use various criteria or indicators for this purpose, such as print cost per unit, print cost per function, print cost per outcome, print quality, and print service. Print cost per unit is the total amount of money spent on printing divided by the number of printed units, such as pages, copies, or impressions. Print cost per function is the total amount of money spent on printing divided by the number of print functions, such as design, prepress, printing, finishing, or distribution. Print cost per outcome is the total amount of money spent on printing divided by the number of print outcomes, such as sales, leads, conversions, or engagement. Print quality is the degree to which your printed materials meet your specifications in terms of color, resolution, accuracy, or consistency. Lastly, print service is the degree to which your print vendors or internal print department deliver your printed materials on time and within budget according to your requirements or preferences.

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Alejandro Plata

Lead Graphic Designer & Print Production Specialist // Boosting Efficiency, Cutting Costs, and Making Production a Breeze!
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Trying to figure out and maintain a benchmark is almost a living entity especially nowadays. Some of our vendors keep raising prices and dropping them based on supply and demand. Having a buffer range for pricing will help vendors do their job more efficiently. Also keeping an updated cost database helps figure out the volatility range of each material, product, or service.

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4 How to use print production cost benchmarks?

Once you have benchmarked your print production costs, you can use the results to align your print production with your business goals and strategies. Setting realistic objectives and targets, identifying and prioritizing improvement actions and initiatives, negotiating and optimizing contracts and service agreements, allocating and managing budget and resources, as well as communicating and reporting performance and value are all achievable with print production cost benchmarks.

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5 How to maintain print production cost benchmarks?

Benchmarking print production costs is an ongoing process that should be regularly monitored and updated. To maintain print production cost benchmarks, you need to establish a benchmarking schedule and frequency, review and validate your print data and sources, adjust your print benchmarks for changes in the market, technology, or customer expectations, track and measure your print performance and progress, and share and learn from your findings and best practices.

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Manu Choudhury

Director @ CDC Printers - a leading print company across 36+ Countries and 5 Continents | Won 90 National Print Awards for Quality & Production across India
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Apart from this, you must also talk to important customers and production folks to make sure your quality and cost goals match real jobs. Also look into eco-friendly printing methods - they often save money too. Recheck that your goals stay updated as printing changes. That way you keep matching the market and help both the business and environment. The printing world moves fast, so quality teams need to constantly get input from users and workers, learn new eco ideas, and adapt benchmarks and rules accordingly. Staying current keeps quality high, costs in line, and sustainability a priority as conditions evolve.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How do you align print production cost benchmarks with your business goals and strategies?

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1 Why benchmark print production costs?

2 How to benchmark print production costs?

3 What to benchmark in print production costs?

4 How to use print production cost benchmarks?

5 How to maintain print production cost benchmarks?

6 Here’s what else to consider

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