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Benchmarking technique
Benchmarking involves comparing one's organization or processes to others considered the best or leaders in their field. It is done in stages, beginning with identifying processes that need improvement, selecting organizations that excel in those processes, compiling relevant information, analyzing performance gaps, and developing an action plan to close those gaps. The goal is to continuously improve quality and performance by learning from the standards and practices of top performers.
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Benchmarking technique
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- 2. Benchmarking : Qualityby comparison
- 3. FICCI CE Benchmarking Benchmarking is quality by comparison for achieving better standards. In the global movement today , the competition is increasing at a faster rate , and the only way to improve your relative quality and move upwards is to benchmark with the best in the class.
- 4. World Class Recognized as the best. Benchmarking :- Benchmarked by others even in other sectors Stages of improvement Best in Class Exceeds customer expectations,outperforms all competitors and has clear competitive edge Efficient Meets all internal requirements for cost margins, asset utilization,cycle-time and measures of excellence Effective Satisfies all customer requirements Incapable Is ineffective , inefficient and at the risk of failing. Needs major redesign
- 5. FICCI CE Benchmarking methodology Benchmarking can be of various types - Competitive benchmarking, product benchmarking, process benchmarking and best practices benchmarking. Whatever be the category chosen by the organization, the benchmarking methodology remains the same in each case. Benchmarking methodology is explained through 5 simple steps in the following slides.
- 6. FICCI CE A. Identify processes to benchmark • Select processes to benchmark. • Measure current process capability. • Understand detailed process which needs improvement.
- 7. FICCI CE B. Select organization to benchmark • Select organizations which perform your process. • Compile a list of world class process parameters.
- 8. FICCI CE C. Compile the required information • Develop a detailed questionnaire to obtain desired information.
- 9. FICCI CE D. Analyze gaps Identify the performance gaps and develop an action plan to close the gaps. Also highlight and quantify the consequences of not closing the gap.
- 10. FICCI CE E. Develop an action plan • Review observations of the gap analysis. • Set new performance standards. • Develop an action plan for meeting the new performance standards.
- 11. FICCI CE