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Benchmarking

August 7, 2009
Benchmarking is a collaborative learning process among a group of companies to focus on specific operating practices, compare measures and results and identify improved processes within their organizations.
Advantage of benchmarking:
Benchmarking opens organizations to new methods, ideas and tools to improve their effectiveness.
It will help for solving problems in any field.
Producer:
There is no single benchmarking process it will varies user application. But there is most prominent methodology is the 12 methodology.
The 12 stage methodology consisted of
1. Select subject ahead
2. Define the process
3. Identify potential partners
4. Identify data sources
5. Collect data and select partners
6. Determine the gap
7. Establish process differences
8. Target future performance
9. Communicate
10. Adjust goal
11. Implement
12. Review/recalibrate.
The 12 methodology are explained by simple example in below:
1. Identify your problem areas:
Benchmarking can be applied to any business process or function, a range of research techniques may be required. They include: informal conversations with customers, employees, suppliers, marketing dep. ect.
2. Identify other industries that have similar process:
It will reduces your profit so that if any change must need for your growth.
3. Identify organization that leads in these areas:
Look for the very best in any industry and in any country. Consult customers, suppliers, financial analysts, trade associations, and magazines to determine which companies are worthy of study.
4.Survey companies for measures and practices:
Companies target specific business processes using detailed surveys of measures and practices used to identify business process alternatives and leading companies.
5.Visit the “best practice” companies to identify leading edge practices:
To develop your company you must visit leading companies to know what methodology is using by friendly.
6. Implement new and improved business practices:
Take the leading edge practices and develop implementation plans which include identification of specific opportunities, funding the project and selling the ideas to the organization for the purpose of gaining demonstrated value from the process.
Types of benchmarking:
1. Process benchmarking.
2. Financal benchmarking.
3. Performance benchmarking.
4. Product benchmarking.
5. Stragetic benchmarking.
6. Functional benchmarking.
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