Prepared bySneha Ushir(PA-18)Ankit Bhatt (PA-02)Dharmin Joshi(PA-05)

Benchmarking?

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BENCH MARKING IS CARVED OUT OF JAPANESE WORD

DANTOTSU

“STRIVING TO BE THE BEST OF THE BEST”

What is Benchmarking

• A method for identifying and importing best practices in order to improve performance

• The process of learning, adapting, and measuring outstanding practices and processes from any organization to improve performance

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Benchmarking-a bird’s eye view -Where we want to be

WORLD CLASS

Functional Benchmark

Competitive Benchmark

CURRENT PERFORMANCE

WHERE WE ARE

GOAL 1

GOAL 2

GOAL 3

Why Benchmark

• Identify opportunities to improve performance

• Learn from others’ experiences

• Set realistic but ambitious targets

• Uncover strengths in one’s own organization

• Better prioritize and allocate resources

Benchmarking Process

Planning

CollectingData

Analysis

ImprovingPractices

Audit…Analyze…ID…Improve…Assess

Elements of benchmarking

Direct competitorAdmired company in the same industryAdmired company in any industryBest of breed on different aspectsChasing multiple competitors

Benchmarking Inadequacies

• Don't try and benchmark too many things to begin with...

• Don't waste time benchmarking things that are just "nice to know.”

•  Be precise in defining what is to be measured.

• Test the benchmarks internally before consulting with outside companies.

•  Remember that your organisation's priorities may change with time.

Conclusion: Impacting Value to the Customer

MARKET NEEDSORGANIZATIONAL CAPABILITIES

MARKET SPACE

MARKET NEEDS ORG CAPABILITIES

MARKET SPACE

Benchmarking and continuous improvement