The North American Association of Floor Covering Distributors (NAFCD) and the Ceramic Tile Distributors Association (CTDA) are pleased to join forces for the 2022 NAFCD-CTDA Financial Benchmarking Program. In an environment where relentless pressure is put on profit margins, this program sets out to help distributors optimize their performance through the provision of aggregated financial data.
With the help of third-party research firm Benchmarking Analytics, distributors who participate in the survey will receive an overview of their metrics stacked against industry averages. This comparative analysis will highlight areas of improvement and give users a better understanding of the "best practices" of high-performing distribution companies.
"Last year, our partnership with CTDA helped double our sample size and give flooring distributors an even greater opportunity to assess their business' success. As we launch the 2022 program, we look forward to providing data across both membership networks yet again," said Kevin Gammonley, executive vice president of NAFCD.
Both associations have been providing financial benchmarking to their members for many years and the annual reports provide some of the most detailed analyses of operating and employee performance available to distributors. The 2022 program has several objectives, including:
- Provide an opportunity to compare a distributor’s performance to reputable industry performance targets.
- Present data that may allow distribution managers to rethink their assumptions about strengths and weaknesses.
- Shed light on weak distribution performance and inefficient processes.
- Deliver insight into whether payroll expenses are in line with industry averages.
- Facilitate resource allocation decision-making.
The program is a member benefit of the NAFCD and there is no cost to distributors who submit their data. Non-member distributors are invited to participate one time at no cost or commitment.