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BENEFITS OF DOCUMENT
Benchmarking is the search for those best practices that will lead to the superior performance of a company. Establishing operating targets based on the best possible industry practices is a critical component in the success of every business. Traditional target-setting methods are still being practiced in many companies and these have blinded sided them to foreign competition. The Japanese term "dantotsu," which means striving to be the "best of the best," incorporates the essence of the process they use to establish competitive advantage.
The benchmarking process, establishing operating targets based on best practices is being used increasingly by companies all over the world. Benchmarking is a positive, proactive, structured process which leads to changing operations and eventually attaining superior performance and a competitive advantage. Investigating and incorporating best industry practices leads to profitable, high inventory turn, return on assets results.
Benchmarking is industrial research or information gathering that allows a manager to compare his or her function's performance to the performance of the same functions of other companies. Benchmarking identifies those management practices the function should use to attain superiority. Taken from the land surveying term for a mark used as a reference point for elevation or direction comparisons, the practice of comparing performance between organization is commonly referred to as benchmarking.
Benchmarking is a positive, proactive activity that is the missing ingredient in the kit bag of many marketing and manufacturing firms to correctly establish its goals, objectives and targets. It is a new way to establish operating targets—not how they have been established in the past, but established based on the best of the best practices, constantly reviewed and updated to ensure the best and most structured way to obtain long-term superiority.
Based on the world renowned Xerox Benchmarking Process model pioneered by Robert C. Camp, this comprehensive Benchmarking PPT training presentation deck covers the benefits of benchmarking, various types of benchmarking, identifying what to benchmark, whom to benchmark, and provides a detailed step by step guidance on how to systematically carry out a benchmarking project. It also includes useful tips on benchmarking site visit, benchmarking etiquette and the critical success factors.
1. Gain a broad understanding of the key concepts of benchmarking.
2. Learn how to identify, assess and implement various types of benchmarking projects to meet the your organization's goals based on the Xerox Benchmarking model.
3. Gain awareness of the code of conduct for benchmarking and make preparations to get the most out of a site visit.
4. Define the critical success factors in benchmarking implementation.
5. Kick-start benchmarking projects that are aligned to your company's strategic goals.
• Introduction to Benchmarking
• The Four-phase, Ten-step Xerox Benchmarking Process
• Step 1: What to benchmark?
• Step 2: Whom to benchmark?
• Step 3: Data collection
• Step 4: Determine current performance "gap"
• Step 5: Project future performance levels
• Step 6: Communicate findings and gain acceptance
• Step 7: Establish goals
• Step 8: Develop action plans
• Step 9: Implement actions and monitor progress
• Step 10: Re-calibrate benchmarks
• Benchmarking Roles and Responsibilities
• Benchmarking Inspection Checklist (Toll-gate Review)
• Benchmarking Etiquette
• Benchmarking Site Visit
• Benchmarking Pitfalls & Success
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Source: Best Practices in Performance Management, Benchmarking PowerPoint Slides: Benchmarking for Superior Performance PowerPoint (PPTX) Presentation, Operational Excellence Consulting
ABOUT THE AUTHOR: OPERATIONAL EXCELLENCE CONSULTING
Operational Excellence Consulting is a leading management training and consulting firm dedicated to helping individuals and organizations improve their effectiveness and productivity in the post-pandemic new normal. Our mission is to drive lasting beneficial change by leveraging design thinking and lean management approaches.
We work with a diverse range of clients, including government bodies, multinational corporations, and small and medium-sized enterprises, across a wide spectrum of industries.
Our firm offers a comprehensive suite of capabilities, including Design Thinking, Customer Experience Management, Business Model Innovation, Lean Process Redesign, Total Quality Management (TQM), Total Productive Maintenance (TPM), Kaizen, Value Stream Improvement, Hoshin Kanri (Policy Deployment), Problem Solving Techniques & Tools (e.g. PDCA, 8D, A3, etc.), Training Within Industry (TWI), Suggestion System and Benchmarking.
To ensure the widespread adoption of operational excellence techniques and tools, we pride ourselves on developing high-quality, customizable training materials, presentations, frameworks, and templates to complement your training and business needs.
Operational Excellence Consulting has published 205 additional documents on Flevy.
This business document is categorized under the function(s): Operations Strategy, Marketing, & Sales
It applies to All Industries
File Type: PowerPoint (pptx)
File Size: 9.7 MB
Number of Slides: 241 (includes cover, transition, & marketing slides)
Related Topic(s): Performance Management Benchmarking
Purchase includes lifetime product updates. After your purchase, you will receive an email to download this document.
Terms of usage (for all documents from Operational Excellence Consulting)
Initial upload date (first version): Feb 23, 2013
Most recent version published: Apr 5, 2019
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