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Premium member Presentation Transcript Benchmarking : Benchmarking Benchmarking : Done by Karthick.V Kanimozhi.N Karthika.R Kalaivanan.M Kannan.R Kalaiyarasan.D Benchmarking Contents : Contents Introduction - Benchmarking Collaborative benchmarking Procedure Cost of benchmarking Technical benchmarking \ product benchmarking Types of benchmarking Levels of benchmarking Benefits of benchmarking Xerox – case study Conclusion Introduction - Benchmarking : Introduction - Benchmarking What is benchmarking? Benchmarking is the process of comparing the business processes and performance metrics including cost, cycle time, productivity, or quality to another that is widely considered to be an industry standard benchmark or best practice. Contd.. : Contd.. Benchmarking provides a snapshot of the performance of your business and helps you understand where you are in relation to a particular standard. The term benchmarking was first used by cobblers to measure people's feet for shoes. They would place someone's foot on a "bench" and mark it out to make the pattern for the shoes. Collaborative benchmarking : Collaborative benchmarking Benchmarking, originally invented as a formal process by Rank Xerox, is usually carried out by individual companies. Sometimes it may be carried out collaboratively by groups of companies Example: UK construction industry which has carried out benchmarking since the late 1990s again through its industry association and with financial support from the UK Government. Procedure : Procedure There is no single benchmarking process that has been universally adopted. The wide appeal and acceptance of benchmarking has led to various benchmarking methodologies emerging. The first book on benchmarking, written by Kaiser Associates, offered a 7-step approach. Robert Camp (who wrote one of the earliest books on benchmarking in 1989) developed a 12-stage approach to benchmarking. Slide 8: The important approaches in benchmarking Identify your problem areas Indentify other industries that have similar processes Identify organizations that are leaders in these areas Survey companies for measures and practices Visit the “best practice” companies to identify leading edge practices Implement new and improved business practices Cost of benchmarking : Cost of benchmarking Benchmarking is a moderately expensive process, but most organizations find that it more than pays for itself. The three main types of costs are: 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. This will take them away from their regular tasks for part of each day so additional staff might be required. 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 companies associated with each best practice now. Technical BenchmarkingORProduct Benchmarking : Technical BenchmarkingORProduct Benchmarking The technique initially used to compare existing corporate strategies with a view to achieving the best possible performance in new situations, has recently been extended to the comparison of technical products. This process is usually referred to as "Technical Benchmarking" or "Product Benchmarking". Its use is particularly well developed within the automotive industry ("Automotive Benchmarking"), where it is vital to design products that match precise user expectations, at minimum possible cost, by applying the best technologies available worldwide. Types of benchmarking : Types of benchmarking Process benchmarking Financial benchmarking Benchmarking from an investor perspective Performance benchmarking Product benchmarking Strategic benchmarking Functional benchmarking Best-in-class benchmarking Operational benchmarking Levels of Benchmarking : Levels of Benchmarking Learn from Past Success Borrow Good Ideas Best-in-Company Industry Standard Industry Leadership Best-in-Country World Class XEROX- A Case Study : XEROX- A Case Study Xerox, one of the world's leading copier company Xerox, implements benchmarking concepts. 1948 – invented Xerox corporation 1961 - Xerox was listed on the New York Stock Exchange 1969 – sets corporate R&D facility 1970 – introduced more new products After 1980’s implement the benchmarking concepts Contd… : Contd… Keywords: Leadership Through Quality Benchmarking Implementation positive impact practices Benefits of benchmarking : Benefits of benchmarking In 2008, a comprehensive survey on benchmarking was commissioned by The Global Benchmarking Network, a network of benchmarking centers representing 22 countries. Over 450 organizations responded from over 40 countries. Mission and Vision Statements and Customer (Client) Surveys are the most used (by 77% of organizations) of 20 improvement tools, followed by SWOT analysis(72%), and Informal Benchmarking (68%). Performance Benchmarking was used by (49%) and Best Practice Benchmarking by (39%). The tools that are likely to increase in popularity the most over the next three years are Performance Benchmarking, Informal Benchmarking, SWOT, and Best Practice Benchmarking. Over 60% of organizations that are not currently using these tools indicated they are likely to use them in the next three years. Conclusion : Conclusion Benchmarking must be a continuous process with the extent and scope of the project being dependent on the resources that the company has available. The above key steps to benchmarking are detailed further along with a list of factors to be aware of in the companion document 'Guide to Benchmarking' references : references Beating the competition: a practical guide to Benchmarking. Kaiser associates 1988.pp.176. Camp,R.(1989). The search for industry best practices that lead 2 superior performance. Benchmarking: how to make the best decisions for your practice Slide 18: QUERIES You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.