BENCHMARKING

Benchmarking is a theoretical-practical tool that allows companies that implement it, to analyze key indicators of their internal performance, these indicators will take into account the internal processes and their characteristics such as productivity, effectiveness, efficiency, workflow, among many other aspects.

The final result of benchmarking is the identification of the strong and weak points of an organization in order to obtain enough information to make important decisions in a company.

There are several focus points of benchmarking, of which three stand out: internal, competitive, and generic.

Internal Benchmarking: the main purpose of this methodology, as mentioned above, is to know the characteristics and measurements of the internal processes compared to other lines of processes of the same company.

It is carried out with the purpose of identifying internal development standards and carrying out an internal improvement plan of the company, the general steps of this methodology can still change depending on the strategy you are going to use, it would be:

  • Analysis of internal processes.

• Process of comparing information between different processes and departments.

• Identification of processes to improve.

• Collect suggestions and improvement plans.

• Adopt and execute improvement plans.




https://www.heartsandwallets.com/page/inside-advice-benchmarking

Competitive benchmarking: it is the focus of benchmarking centers on analyzing the general aspects of the direct competence of the company to know methodologies that can be implemented, improved, or avoided in our company.

Among the information to be collected from the competition are the following: Value proposition, Social, environmental and economic impact, Sources of income, market size such as units per month, week or year, Annual sales, as well know the main difficulties given the environment, the main opportunities, the next steps of the company, the key activities of the business and the main stakeholders.

Generic benchmarking: this type of benchmarking is very similar to competitive since the main idea is to examine other companies, only in this case they are not a direct competitor of the company.

This methodology also serves to identify good practices, types of organization, among other data that can be used for the study.

To carry out a benchmarking correctly the following aspects must be taken into account:

• Form a specialized team focused on the project.

• Inform everyone in the company of the process so they can collaborate with information about the processes.

• Determine analysis indicators.

• Perform analytical diagnosis of processes and departments.

• Identify target companies for study.

• Make a report of the indicators applied in the other company.

• Put results in the final report.

• Inform and implement improvement plans.

• Repeat process after a certain time.

Is important to look out and in to know the health of the company and find strategies to grow.  Sometimes is key to partner with a facilitator to obtain traceability in the process and organization. LYA ELECTRONIC can help you develop a software solution you might be needing.

Sources:
https://branch.com.co/marketing-digital/que-es-benchmarking-y-para-que-sirve/#:~:text=El%20benchmarking%20es%20el%20proceso,un%20estándar%20de%20éxito%20empresarial.

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Posted by

Job Coronado – Systems Engineer