Solomon’s studies provide standardized peer groupings that allow performance comparisons within major geographic areas, operating regions, size/complexity groups, and groups of plants with similar configurations. However, you may wish to compare the performance of a plant with an even more specialized group. Solomon’s Customized Peer Group Selection lets you request such narrowly defined peer groups.
The selection criteria for these peer groups will reflect the tactical and strategic plans you’ve developed to improve your company’s competitive performance. Solomon believes that selecting such specialized peer groups is often critical to establishing performance targets consistent with your unique vision for performance improvement.
These customized peer groups vary significantly from company to company and refinery to refinery; as a result, they cannot be effectively standardized. For example, while some companies focus on cash operating cost, others focus on gross margin or net cash margin. Some companies need only one custom peer group, while others choose multiple peer groups to support their benchmarking and planning efforts.
For each customized peer group you request, you will receive the same detailed study deliverables provided with each of our standard study peer groups, including the performance gap analysis (gross margin and/or operating expense) you specify. In addition to selecting custom refinery peer groups, you may also choose custom process unit peer groups.
Standard peer group studies provide valuable insight into relative performance differences on a consistent study-wide basis. But there are times when more narrowly defined peer groups — perhaps what you consider the competition for each specific refinery — can help you better meet your benchmarking needs.