EMGT 364 BENCHMARKING John Checco Joe Dashiell EMGT 364 28 Feb 01.

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Presentation transcript:

EMGT 364 BENCHMARKING John Checco Joe Dashiell EMGT Feb 01

EMGT 364 BENCHMARKING AGENDA References Benchmarking Defined Concept of Benchmarking Application in Product Development Legal Aspects Conclusion

EMGT 364 BENCHMARKING Application in Product Development References (1 of 4) Product Design and Development Karl T. Ulrich Steven D. Eppinger

EMGT 364 BENCHMARKING The Product Development Benchmarking Association Competitive Benchmarking Associates The Benchmark Exchange Application in Product Development References (2 of 4)

EMGT 364 BENCHMARKING Quirk’s Marketing Research Review “Measuring Competitiveness” By Michael Branham, Oct 1997 Marketing Tools Magazine “Measuring What Matters” By Michael Branham, Apr 1997 Application in Product Development References (3 of 4)

EMGT 364 BENCHMARKING Re-Engineering at Work Michael Loh Business Process Improvement Toolbox Bjorn Anderson Global Cases in Benchmarking Robert Camp Application in Product Development References (4 of 4)

EMGT 364 BENCHMARKING Benchmarking Defined Judging and modifying one’s business product, service, or process based on standards developed from performance measures of other selected businesses. Benchmarking Versus Indexing Same Industry Versus Different Industry

EMGT 364 BENCHMARKING Concept of Benchmarking Core Components Measurement -Self and Partners Comparison -Performance, Process, Pracitces Learning -Introduce Ideas Improvement -Objective

EMGT 364 BENCHMARKING Concept of Benchmarking Types of Comparisons WHO? Internal -Same Orgainization Competitive -Competitor or Parallel Class Functional -Related Tasks / Technologies Generic -Best in Any Class WHAT? Performance -Key Figures Process -How Performed Strategic -Higher Level

EMGT 364 BENCHMARKING Concept of Benchmarking Benchmarking Value

EMGT 364 BENCHMARKING Concept of Benchmarking Conducting a Study Plan:Select Focus, Study Self Search:Find Benchmark Partners Observe:Document Partner Analyze:Identify Gaps and Causes Adapt:Implement Change

EMGT 364 BENCHMARKING Application in Product Development Generic Development Process Concept Development Case Study Data Sources

EMGT 364 BENCHMARKING Application in Product Development Generic Development Process Planning Concept Development System Level Design Detail Design Testing and Refinement Production Ramp-Up

EMGT 364 BENCHMARKING Application in Product Development Concept Development Mission Statement Identify Customer Needs Development Plan Establish Target Specs Generate Product Concepts Select Product Concept Refine Specs Plan Remaining Project Apply Benchmarking Apply Benchmarking

EMGT 364 BENCHMARKING Specialized Bicycle Components Establish Target Specifications –Develop List of Metrics –Collect Competitive Benchmark Data –Develop Competitive Benchmarking Charts Application in Product Development Case Study (1 of 7)

EMGT 364 BENCHMARKING Application in Product Development Case Study (2 of 7) Competitive Benchmarking Chart Based on Metrics

EMGT 364 BENCHMARKING Application in Product Development Case Study (3 of 7) Competitive Benchmarking Chart Based on Needs

EMGT 364 BENCHMARKING Application in Product Development Case Study (4 of 7) Set Ideal and Marginally Acceptable Target Values Develop Solution Concept

EMGT 364 BENCHMARKING Refining the Specifications –Develop Technical Models of the Product –Develop a Cost Model of the Product –Refine the Specifications, Making Trade-offs Where Necessary Application in Product Development Case Study (5 of 7)

EMGT 364 BENCHMARKING Application in Product Development Case Study (6 of 7) Maniray Rox Tahx Ti Gunhill Rox Tahx Q Tonka Pro ST Tritrack Marginal Values Ideal Values

EMGT 364 BENCHMARKING Application in Product Development Case Study (7 of 7) The Refined Specifications

EMGT 364 BENCHMARKING Time Investment Purchasing Competitors Catalogs and Supporting Literature Outside Firms Application in Product Development Data Sources

EMGT 364 BENCHMARKING Concept of Benchmarking Ethical and Legal Aspects Treat Partners Fairly Refrain from Questionable Activity International Considerations Avoid Competitors for  Pricing  Marketing  Production Capacity  Product Standards  Sensitive Information

EMGT 364 BENCHMARKING Conclusion Benchmarking is the practice of being humble enough to admit that someone else is better at something, and being wise enough to learn how to match them and even surpass them at it. (APQC, 1993)