Join Eddie Davila for an in-depth discussion in this video Improving quality: benchmarking, part of Operations Management Foundations.
- Former Intel CEO, Andy Grove, loved to say,…"Only the paranoid survive."…That quote tells us a lot about the never ending…competitive nature of business.…Companies should strive to be the best…but to be the best companies often want to know…where they stand and what others might be doing.…It's no wonder that benchmarking is such an important part…of many businesses.…Benchmarking is a process of comparing and measuring…your company's processes and systems…against the processes and systems of others.…
Sometimes people will also use benchmarking…as a means to discover another company's best practices.…How does it work?…Well, usually benchmarking is a four step process.…First, identify the process you want to benchmark.…Benchmarking is not an overall…company-to-company comparison.…It's very specific.…Second, identify the leader or leaders.…Which company's processes…will you compare your process to?…Third, gather data.…
How do they measure their process?…How do your process metrics compare to theirs?…How do they do things differently?…
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- Understanding operations management
- Making key inventory decisions
- Balancing holding costs and ordering costs
- Choosing a production strategy and facility layout
- Managing waiting-line systems
- Defining quality and improving quality
- Managing business processes
Skill Level Intermediate
1. Introduction to Operations
2. Managing Inventory
3. Managing Production of Products and Services
4. Managing Waiting Lines
5. Managing Quality
6. Operations at the Office
Wrap up2m 52s
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