Gold Standard Index Benchmarking - What is it?

GSI™ is an up-to-date haulier matrix, based on costs combined across a number of large manufacturers who, in our opinion, buy sensibly in terms of the prices paid and the service levels achieved.

Each and every consignment is compared against our Gold Standard cost based on the distance of customers from your warehouse and the order size placed.

The extent by which we need to increase (or decrease) the detailed values in the Gold Standard Matrix produces a that Gold Standard Index™ fairly reflects your competitiveness.

We compare your overall result and also compare costs for any nominated :

  • mileage band,
  • pallet band,
  • region,
  • sales channel or
  • Major Account

Fewer than 20% of sites achieve Gold Standard, but these are evenly distributed across the core UK regions

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What is included in my free assessment?

A full GSI™ benchmark will provide a detailed insight into how competatively your activity profile compares with those of your peers who achieve Gold Standard. The free assessment applies the same process but to a small snapshot of your transport data, to show how competitive you might be if this sample was representative of your total profile and spend. We then grade the results to reflect the % variance to Gold Standard – charting this as a comparison against anonymised, actual results of your peers.

Our experience shows that 65% of first time users achieve a Bronze, or lower, rating – indicating a potential saving of >15% where a competitive strategic service partner can be secured

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What data do I need to provide?

We provide a downloadable data specification on the free assessment page, which specifically relates to your consignment data (no of pallets delivered to end destination and the cost of that transaction). The template data requirement is illustrated below (maximum 100 rows of data) and should be readily available from your transport providers detailed invoice:

In addition we ask you to input the Fuel Rate for your rate card and the month and year of the data set input in the cells above.

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How do I upload the data?

Simply upload the Excel data file and press START – you will receive an on-screen assessment of your competitiveness and a mini-interpretation will be emailed to you with the charted output, detailing the options and next steps, should you be interested in discussing any further options.

*If you receive an error message (corrupt or unrecognisable data) we will try to resolve it and contact you so you can complete the assessment*

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How long does it take to get the results?

Your results are delivered immediately, direct to your inbox.  In addition we will contact you to arrange you free evaluation call, to help you decide whether any further action might be appropriate.

 

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How do I interpret the feedback?

You will automatically receive a copy of the output and our high-level interpretation of the result, to your email. We grade the results to reflect the % variance to Gold Standard, where

The level of variance indicates the level of realisable savings potential, were this sample representative of your total profile. In addition we will contact you to arrange you free evaluation call, to help you decide whether any further action might be appropriate. 

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How practical is the output?

All of our customers have been extremely complimentary about the process and the results. Our performance improvement experience means we are well placed to help you to decide the action that would be prudent, whether that is no action, working with your incumbent, understanding how you compare in the real market place (Market Test) or whether you wish to pursue a full tender process to select a new partner, or renew. 

We have helped many leading suppliers to substantially reduce the cost of their logistics operations, whilst securing high service standards. 

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What if I have a mix of 3PL and own transport?

Regardless of your transport fleet mix, assuming we can agree the basis upon which the data is collected beforehand, we will be able to ensure that you can be compared using the Gold Standard Index™, on an 'Apples with Apples' basis.

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How does it provide an Apples with Apples comparison?

At the start we specify the data required to create a common format database from which we can compare all the participants (new and historical). This also then allows us to drill down into the results to identify where and how anomalies occur. Using our experience of different providers and solutions we can identify why results differ and how improvements can be achieved through existing providers, or alternative options.

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Will it work if I have a flat rate, Backhaul or FGP?

Yes, we have run all of our benchmarks to date incorporating such variations of cost mechanism by re-attributing the costs to create an 'Apples with Apples' comparison using the Gold Standard Index™. The level of drill-down is more limited, but it still enables clients to identify the relative value of the relevant mechanism and so helps focus on where and how further benefit can be achieved.

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Start your Free Assessment

Upload a snapshot of your transport data – results will show you how competitive you might be if this sample was representative of your total profile and spend

Start Benchmarking