Abstract:
“Benchmarking - A Tool for Success”
"BENCHMARKING" is a very
common word in the industry. However, its full potential as a powerful tool is
often not recognized or utilized. Once it is established as a tool, a process,
it is useful in a variety of areas, such as technology, manufacturing,
operations, management, purchasing, supplier selection, training, finance,
business and marketing, etc. The sources of information, method of data
collection, relevance of data with the goals, planning, and implementation are
some of the reasons for the success or failure of a benchmarking program. The
course teaches Benchmarking as a process consisting of goal setting, competitive
analysis, sensitivity analysis, strategic planning and implementation.
Continuous improvement, ISO 9000 and total quality concepts are an integral part
of the process. A large number of examples are discussed to identify the
industries in which benchmarking has been used in the past 20+ years, and its
scope and diversity. The course will enable the participants to understand how
benchmarking process as a whole or in parts can be useful in their specific area
of interest. The benefits may range from completion of a short-term project, to
an establishment of a new company culture and discipline for self-assessment,
developing long-term vision and success.
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