The technique of Benchmarking

Benchmarking is the comparative evaluation of technologies, production processes and products of an organization, compared to the leading European organizations in the same market.

The evaluation is carried out with the aid of chosen indicators and it evaluates performance in the following fields:

  1. Finance
  2. Management of Resources and Personnel
  3. Strategy
  4. Research and Development
  5. Production Technology
  6. Product and Marketing
  7. Quality and Customer Satisfaction
  8. Warehouse management
  9. Supply chain

Results

The results of Benchmarking include an understanding of the weaknesses of any corporation / organization as well as the ability to measure accurately the limits of its improvement. Benchmarking also paves the way for other methods of innovation development to be applied, such as creativity, technology clinics, Business Process Reengineering (BPR), chain-of-production management, e-commerce, etc.

Procedure

The overall procedure involves five steps:
  1. Data Collection from the corporation / organization.
  2. Entering the data into the Best Practice database and compiling the evaluation diagrams.
  3. Composing the evaluation report based on results and diagrams from the database.
  4. Discussing the evaluation's results with the corporation / organization and with experts, in order to explore new solutions.
  5. Stating proposals for improvement and applying innovation methods.

The Benchmarking process

This procedure can be completed within one month, demanding 5-10 man days, depending on the size of the organization being evaluated and the evaluation fields.