The main results from the operational analyses of 12 fine paper machines are compared and discussed. The key metrics studied for each machine were annual production volume, number of paper grodes produced, and average through put time with its variation in the whole supply chain from paper machine to customer. The variation in throughput time has been calculated in terms of the cost saving potential that would be realised if the whole material flow passed each step in the chain within 7 weeks from its initial production date. To justify this calculation, the assumptions made in relation to inventory carrying costs are discussed. The results indicate that machines turning out numerous paper grades tend to have longer throughput times in their supply chains, although exceptions do occur. Neither annual volume nor paper machine capacity has any clear correlation with throughput time. It is also shown that longer throughput times entail more variation in the supply chain. The fundamental result of the benchmark study indicates that, independent of the paper machine's size or the number of products being produced, a mill can be operationally efficient and outperform others in the market. The mills in the sample were studied during 1995 and 2000.