Benchmarking new

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Information about Benchmarking new

Published on December 15, 2016

Author: ChetanKumar217

Source: slideshare.net

1. By:-CHETAN KUMAR

2. BENCHMARKING • The continuous process of measuring products, services, and practices against the company’s toughest competitors or those companies renowned as industry leaders • Objectives: • Establish credible goals • Continuous improvement • Benefit of Benchmarking: Achieve performance levels that fully satisfy these ever-increasing customer expectations

3. How Benchmarking is done 1. Establish that there is a need for change Identifying gaps between the organization and the competition 2. Identify what should be changed Understand how industry leaders do things 3. Create a picture of how the organization should look after the change Showing what is possible and what other companies have done BENCHMARKING FUNDAMENTALS: 1. Know the operation 2. Know the industry leaders and competitors 3. Incorporate the best and gain superiority

4. PHASES OF THE 10-STEP BENCHMARKING PROCESS

5. Phase 1: PLANNING  Decide what to benchmark  Product/output  Priority candidates to benchmark to improve performance  Identify whom to benchmark  Plan the investigation and conduct it Collect data sources and observe best practices

6. Phase 2: ANALYSIS  Understanding internal business processes  Examine best practices of other org.  Measure the gap  Project future performance

7. Phase 3: INTEGRATION  Redefine goals and incorporate them  Communicate benchmarking finding and gain acceptance  Target and strategy should be updated

8. Phase 4: ACTION  Best practices are implemented  Periodically recalibrate  Monitor progress

9. Phase 5: MATURITY  Determine when leadership position is attained  Standard part  Performance levels improving

10. STEP 1: WHAT TO BENCHMARK STEP 3A: COLLECT DATA STEP 3B: CONDUCT SITE VISIT STEP 4: ANALYSE THE PERFORMANCE GAP STEP 5: PROJECT PERFORMANCE LEVELS STEP 6: COMMUNICATE FINDINGS STEP 7: ESTABLISH FUNCTIONAL GOALS STEP 8: DEVELOP ACTION PLAN STEP 9: IMPLEMENT PLAN & MONITOR RESULTS STEP 10: RECALIBRATE BENCHMARKS STEP 2: WHOM TO BENCHMARK

11. Step 1: What to benchmark 1. Identify product/output 2. Develop a clear mission statement 3. The broad functions are broken down into specific outputs 4. Specific outputs are documented in detail for comparison

12. STEP 1: WHAT TO BENCHMARK STEP 3A: COLLECT DATA STEP 3B: CONDUCT SITE VISIT STEP 4: ANALYSE THE PERFORMANCE GAP STEP 5: PROJECT PERFORMANCE LEVELS STEP 6: COMMUNICATE FINDINGS STEP 7: ESTABLISH FUNCTIONAL GOALS STEP 8: DEVELOP ACTION PLAN STEP 9: IMPLEMENT PLAN & MONITOR RESULTS STEP 10: RECALIBRATE BENCHMARKS STEP 2: WHOM TO BENCHMARK

13. Identifying leading competitors which possess the best practices  Internal Benchmarking  Comparison of practices among similar operations within a firm  Benefit: Force documentation and allows easy comparison  Competitive Benchmarking  Comparison to the best direct competitors  Ways: Public Domain, Direct Benchmarking Exchange & Joint study by 3rd party  Functional Benchmarking  Comparison of functional activities even in dissimilar industries Step 2: Whom to benchmark

14. STEP 1: WHAT TO BENCHMARK STEP 3A: COLLECT DATA STEP 3B: CONDUCT SITE VISIT STEP 4: ANALYSE THE PERFORMANCE GAP STEP 5: PROJECT PERFORMANCE LEVELS STEP 6: COMMUNICATE FINDINGS STEP 7: ESTABLISH FUNCTIONAL GOALS STEP 8: DEVELOP ACTION PLAN STEP 9: IMPLEMENT PLAN & MONITOR RESULTS STEP 10: RECALIBRATE BENCHMARKS STEP 2: WHOM TO BENCHMARK

15. Information Sources: 1. Internal Search of everything published on the topic during the last 5 years in a public domain 2. External Information from professionals, seminars, lectures etc. 3. Original Contact Benchmarking partners directly and collect information using questionnaires Step 3A: Collect Data

16. Step 3B: Conduct site visit  Outside consultant can be used (little organizational learning and little ownership in findings)  Rule of thumb: 70/30; 70% studies done internally, 30% done externally Prepare questionnaire Prioritize topics Identify Benchmarking Site Visit Team Benchmarking Protocol Site Visit Site Visit Report

17. STEP 1: WHAT TO BENCHMARK STEP 3A: COLLECT DATA STEP 3B: CONDUCT SITE VISIT STEP 4: ANALYSE THE PERFORMANCE GAP STEP 5: PROJECT PERFORMANCE LEVELS STEP 6: COMMUNICATE FINDINGS STEP 7: ESTABLISH FUNCTIONAL GOALS STEP 8: DEVELOP ACTION PLAN STEP 9: IMPLEMENT PLAN & MONITOR RESULTS STEP 10: RECALIBRATE BENCHMARKS STEP 2: WHOM TO BENCHMARK

18. 1. Analyse information collected 2. Indentify gaps and performance 3. Measure of superiority Step 4: Analyse the performance gap

19. STEP 1: WHAT TO BENCHMARK STEP 3A: COLLECT DATA STEP 3B: CONDUCT SITE VISIT STEP 4: ANALYSE THE PERFORMANCE GAP STEP 5: PROJECT PERFORMANCE LEVELS STEP 6: COMMUNICATE FINDINGS STEP 7: ESTABLISH FUNCTIONAL GOALS STEP 8: DEVELOP ACTION PLAN STEP 9: IMPLEMENT PLAN & MONITOR RESULTS STEP 10: RECALIBRATE BENCHMARKS STEP 2: WHOM TO BENCHMARK

20. Step 5: Project Performance Levels Decide improvements : Projections in (i)Current process (ii)After benchmarking

21. STEP 1: WHAT TO BENCHMARK STEP 3A: COLLECT DATA STEP 3B: CONDUCT SITE VISIT STEP 4: ANALYSE THE PERFORMANCE GAP STEP 5: PROJECT PERFORMANCE LEVELS STEP 6: COMMUNICATE FINDINGS STEP 7: ESTABLISH FUNCTIONAL GOALS STEP 8: DEVELOP ACTION PLAN STEP 9: IMPLEMENT PLAN & MONITOR RESULTS STEP 10: RECALIBRATE BENCHMARKS STEP 2: WHOM TO BENCHMARK

22. 1. Decide who needs to know 2. Select best presentation vehicle 3. Organize findings 4. Present recommendations Step 6: Communicate Findings

23. STEP 1: WHAT TO BENCHMARK STEP 3A: COLLECT DATA STEP 3B: CONDUCT SITE VISIT STEP 4: ANALYSE THE PERFORMANCE GAP STEP 5: PROJECT PERFORMANCE LEVELS STEP 6: COMMUNICATE FINDINGS STEP 7: ESTABLISH FUNCTIONAL GOALS STEP 8: DEVELOP ACTION PLAN STEP 9: IMPLEMENT PLAN & MONITOR RESULTS STEP 10: RECALIBRATE BENCHMARKS STEP 2: WHOM TO BENCHMARK

24. Step 7: Establish Functional Goals 1. Revise goals 2. Impact on others 3. Management approval

25. STEP 1: WHAT TO BENCHMARK STEP 3A: COLLECT DATA STEP 3B: CONDUCT SITE VISIT STEP 4: ANALYSE THE PERFORMANCE GAP STEP 5: PROJECT PERFORMANCE LEVELS STEP 6: COMMUNICATE FINDINGS STEP 7: ESTABLISH FUNCTIONAL GOALS STEP 8: DEVELOP ACTION PLAN STEP 9: IMPLEMENT PLAN & MONITOR RESULTS STEP 10: RECALIBRATE BENCHMARKS STEP 2: WHOM TO BENCHMARK

26.  Step 8: Develop action plan 1. Set implementation priorities 2. Show revisions to performance gap 3. Develop action plans Step 8: Develop action plan

27. STEP 1: WHAT TO BENCHMARK STEP 3A: COLLECT DATA STEP 3B: CONDUCT SITE VISIT STEP 4: ANALYSE THE PERFORMANCE GAP STEP 5: PROJECT PERFORMANCE LEVELS STEP 6: COMMUNICATE FINDINGS STEP 7: ESTABLISH FUNCTIONAL GOALS STEP 8: DEVELOP ACTION PLAN STEP 9: IMPLEMENT PLAN & MONITOR RESULTS STEP 10: RECALIBRATE BENCHMARKS STEP 2: WHOM TO BENCHMARK

28. Step 9: Implement Plan and monitor results 1. Best practices 2. Pilot best practice before implementation 3. Efficiency measures

29. STEP 1: WHAT TO BENCHMARK STEP 3A: COLLECT DATA STEP 3B: CONDUCT SITE VISIT STEP 4: ANALYSE THE PERFORMANCE GAP STEP 5: PROJECT PERFORMANCE LEVELS STEP 6: COMMUNICATE FINDINGS STEP 7: ESTABLISH FUNCTIONAL GOALS STEP 8: DEVELOP ACTION PLAN STEP 9: IMPLEMENT PLAN & MONITOR RESULTS STEP 10: RECALIBRATE BENCHMARKS STEP 2: WHOM TO BENCHMARK

30.  Step 10: Recalibrate Benchmarks 1. Benchmarks must be planned and recalibrated 2. Complete reassessment (1-3 years) Step 10: Recalibrate Benchmarks

31. Conclusion  Behavioral benefits  Learning experience  Focus for consensus on needs  Stimulus for improvement  Competitiveness  Improved competitiveness  Increased value in the eye of customers  Superior customer service levels  Increased market share  Improved financial results

32. Thank You!!

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