Benchmarking
BENCHMARKING:
- Benchmarking / Benchmarking I involves a structured comparison between similar products, services or processes on some dimensions of performance.
- Most OEMs and Tier 1s also have their own internal benchmarking departments to analyse the strengths and weaknesses of their competitors.
- Benchmarking I is product level (ie sunroof) of benchmarking
TYPE OF BENCHMARKING
- PROCESS BENCHMARKING
- PERFORMANCE BENCHMARKING
- STRATEGIC BENCHMARKING
PROCESS BENCHMARKING
Larger businesses can look internally to obtain process benchmark data by comparing metrics from different branches of their operations or even different methods of completing the same process.
PERFORMANCE BENCHMARKING
Organizations usually look at one particular aspect of their business in order to establish performance metrics which allow them to measure their output against their own previous results as well as seeing how they compare to their competitors
STRATEGIC BENCHMARKING
This compares strategies, business approaches and business models in order to strengthen your own strategic planning and determine your strategic priorities. The idea is to understand what strategies underpin successful companies (or teams or business units) and then compare these strategies with your own to identify ways you can be more competitive
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What is Benchmarking II ?
- Detailing of benchmarking I.
- It is Part level benchmarking.(ie. What type of part,Screw,No of parts,Material,thickness)