PREFERRED FIBER & MATERIALS BENCHMARK
PFM Benchmark Sector Report 2016
The results of TE’s 2016 Preferred Fiber and Materials Benchmark Program, detailed in this Sector Report, show companies are setting ambitious targets for uptake of more sustainable raw materials. 61% of participating companies have set targets for switching to a more sustainable source of cotton, three quarters having a specific target for organic.
Last year, 71 companies – ranging from adidas to Woolworths – stepped up to the mark and put themselves forward for the 2016 PFM Benchmark, linking their efforts to the UN Sustainable Development Goals (SDGs). Participants have each received customized and confidential feedback, and we are now happy to share with you the aggregated results in this Sector Report.
Join TE’s Benchmark Program and Improve Your Fiber & Materials Portfolio
Companies who complete TE’s annual PFM Benchmark Survey, released in April/May each year, are rewarded with the opportunity to confidentially benchmark their performance, both internally and against industry peers.
TE launched the PFM Benchmark Program in 2015 for measuring how a company systematically integrates a preferred fiber and materials strategy into mainstream business operations. In 2016, we released the first fully weighted and scored PFM Index that reveals a company’s position in relation to peers and the overall universe of participants.
Companies follow a self-assessment process intended to help identify their strengths and the gaps where future progress can be made. By comparing section scores with those achieved by the whole sector, companies can plan improvement efforts and prioritize action areas. The PFM Benchmark provides a robust structure to help companies systematically measure, manage and integrate a preferred fiber and materials strategy, to compare progress with the sector, and to transparently communicate performance and progress to stakeholders.
The program is open to all brands and retailers of textile products. If you would like to take part in the 2017 program, register to the PFM Portal using the link below or contact Support@TextileExchange.org to be kept up to date on the latest news.
PFM Benchmark Framework
The framework follows a systematic approach to integrating preferred fibers and materials (PFMs) into business strategy. It is divided into four key areas: Corporate Strategy, Supply Chain, Consumption, and Consumer Engagement.
Corporate Strategy looks at how fiber and materials are integrated into your business, and the tools your company uses to guide more sustainable sourcing decisions. It also identifies who holds accountability and responsibility to deliver on fiber and materials sustainability.
Supply Chain determines the organizational approach to safeguarding the integrity, responsible growth, and supply security of your preferred fiber and materials. This section looks at voluntary standards, supply chain transparency, and investment.
The Consumption section quantifies the volumes of preferred fibers and materials used by your company and captures year-on-year trends in converting from conventional fiber and materials to preferred options.
Consumer Engagement takes a look at the range of products and markets that your preferred fibers and materials are entering. It covers B2C factors such as product differentiation, customer communication, and company return on investment.
Roadmap to Reporting
The PFM Benchmark is an annual event, which means a consistent basis for measurement and a commitment from us to support your year-on-year performance improvement review. Each year, participating companies receive access to the online self-assessment survey in March/April and have five weeks to complete it.
Alongside your confidential Company Feedback Report, a PFM Benchmark Industry Report is shared with TE members and other stakeholders, and selected aggregated data is fed into TE’s Organic Cotton and Preferred Fiber Market Reports.
Preparing a Submission
The PFM Benchmark is conducted through a secure online portal to your survey. TE staff review submitted surveys and supporting documentation for soundness and completion. Note that this is not an audit; the basis of the submission is self-assessment. TE reviews are desk-based but visits can be made on request. Once submissions are finalized through mutual agreement, data is analyzed and Company Feedback Reports are generated.