Benchmarking can be an effective way of comparing and identifying best practices for efficient capital use
Shekhar S. Patil, University of Colorado at Boulder, and Bart M. Smulders, Sunoco, Inc.
Effective use of capital in the ownership and management of manufacturing assets is critical to the financial performance of companies in the chemical process industries (CPI). Many of these companies use benchmarking in compliance with applicable laws and antitrust regulations to compare, identify, and adopt industry best practices that drive the capital effectiveness of their project development and execution processes. This article presents the considerations that are fundamental to that process of using benchmarking successfully....
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