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L20 Bench Marking

L20 Bench Marking

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Published by api-3820619

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Published by: api-3820619 on Oct 18, 2008
Copyright:Attribution Non-commercial

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03/18/2014

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Benchmarking is \u2026\u2026
Benchmarking is \u2026\u2026
10/17/08
10/17/08
hmahesh45@yahoo.com; VIM Pune
hmahesh45@yahoo.com; VIM Pune
1
1

\u201cBenchmarking is the practice of being humble enough to admit that someone else is better at something and being wise enough to learn how to match and even surpass them\u201d

Benchmark is a \u201cStandard used as test\u201d

Continuous Improveme nt

\ue000Re-engineering
\ue000
Benchmarkin
g
\u201cUsed to compare one\u2019s performance against ,
best in class-achievement\u201d
e.g. in production department
10/17/08
10/17/08
hmahesh45@yahoo.com; VIM Pune
hmahesh45@yahoo.com; VIM Pune
2
2
Benchmarking
Benchmarkingusually follows the path..
usually follows the path..

Comparing
financial
performanc
e with past
data of the
Company-
ROI

Comparing
Financial
Performanc
e with
competitor
sperformanc

e ROI, ROA

Comparing
Performance
with Best
Achievers in
the Industry

More
detailed
analysis-
Time, Cost,
Quality

Performance
benchmarkin
g with own
best
processes,
with best
practices in
the industry

Benchmarking- Process
Benchmarking- Process
10/17/08
10/17/08
hmahesh45@yahoo.com; VIM Pune
hmahesh45@yahoo.com; VIM Pune
3
3

1. Select an area/activity to apply benchmark
2. Define/Identify the processes to benchmark
3. Identify the benchmarks (Partners)
4. Determine the GAP
5. Set revised targets based on GAP
6. Communicate the benchmarking process to teams

7. Implement changes
8. Evaluate the improvements

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