UNDERSTANDING THE PURPOSE AND USE OF BENCHMARKING
Benchmarking is a way of discovering what is the best performance being achieved – whether in a particular company, by a competitor or by an entirely different industry. This information can then be used to identify gaps in an organization’s processes in order to achieve a competitive advantage. Thus it is important for Six Sigma practitioners to:
- Understand fully the purpose and use of benchmarking.
- Understand the difference between benchmarking and competitor research.
- Gain insight to ensure that benchmarking is in alignment with the company’s management objectives.