8/6/2019 Presentation on Bench Marking

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Presented To:Prof: Archana Srivastava

Presented By:Kritee ShuklaPoorva Chandak

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` Benchmarking is the process of comparing one's

business processes and performance metrics to

industry bests and/or best practices from other

industries.` Dimensions typically measured are quality, time

and cost.

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` Benchmarking is a process for improving

performance by constantly identifying,

understanding and adapting best practices and

processes followed by inside and outside the

company and implementing the results.

` Benchmarking is most used to measure

performance using a specific indicator resulting in a

metric of performance that is then compared to

others.

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Identify your problem areas.

Identify other industries that have similar

processes.

Identify organizations that are leader in theseareas.

Survey companies for measure and practices.

Visit the best practice company to identify the

leading edge practices. Implement new and improve business practices.

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Visit Cost

Database

Cost

Time

Cost

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Visit Costs - This includes hotel rooms, travel costs,

meals, a token gift, and lost labor time.

Time Costs - Members of the benchmarking team

will be investing time in researching problems,

finding exceptional companies to study, visits, and

implementation.

Benchmarking Database Costs - Organizations that

institutionalize benchmarking into their daily

procedures find it is useful to create and maintain a

database of best practices and the companiesassociated with each best practice now.

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Process

Benchmarking

Financial

Benchmarking

Performance

Benchmarking

Product

Benchmarking

Strategic

Benchmarking

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Functional

Benchmarking

Best in Class

Benchmarking

Operational

Benchmarking

Energy

Benchmarking

Benchmarking

forInvestorsPerspective.

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` Process benchmarking - The initiating firm

focuses its observation and investigation of

business processes with a goal of identifying and

observing the best practices from one or morebenchmark firms.

` Activity analysis will be required where the

objective is to benchmark cost and efficiency;

increasingly applied to back-office processeswhere outsourcing may be a consideration.

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` Financial benchmarking - Performing a financial

analysis and comparing the results in an effort to

assess your overall competitiveness and

productivity.` Performance benchmarking -Allows the initiator

firm to assess their competitive position by

comparing products and services with those of

target firms.

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` Product benchmarking - The process of

designing new products or upgrades to current

ones.

` This process can sometimes involve reverseengineering which is taking apart competitors

products to find strengths and weaknesses.

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` Strategic benchmarking - Involves observing

how others compete. This type is usually not

industry specific, meaning it is best to look at other

industries.

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` Forgetting things about service delivery and

customer satisfaction.

` The process is too large and complex to manage.

` Confusing benchmarking with research.` Misalignment.