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Benchmarking evaluates and identifies
the products, services and work processes of similar
or competing organizations that are recognized as
best-in-class and then applies these best
practices to its own operations. The process
of benchmarking involves a performance comparison
of your organization with these best-in-class organizations.
The goal of Benchmarking
is to find examples of outstanding performance and
then understand the processes and practices that drive
that performance. Your organization can then improve
its performance by incorporating these best practices
into your own operations through innovation and customizing
the practices to fit your unique environment.
 Benefits
- Improves performance of the organization by
identifying methods of improving operational efficiency
- Identifies opportunities for improvement throughout organization
- Provides strategic advantage to your organization
by focusing it on the key capabilities that result
in success
- Increases level of innovation by bringing new
ideas into your organization
Approach
- Identify customers for benchmarking and customers’
requirements
- Identify customers’ product, service
or process to benchmark
- Create benchmarking team with specific roles
and responsibilities or assign this role to SilverQuest
- Identify benchmarking sources of information—organizations,
consultants, etc.
- Identify key performance metrics of best practices
- Collect data on high level performance and
best practices
- Analyze the data and identify outstanding opportunities
for improvement
- Customize and implement the best practices
with goals and organization buy-in
Would like to explore the idea of benchmarking
for your organization? Let’s Talk
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