The first internal benchmarking cycle and our best practice sharing forums have been real eye-openers, with $800 million of improvement potential identified. Benchmarking, both internally and externally, is a critical tool supporting continuous improvement.
Juran Benchmarking illustrated to our top management our strengths and weaknesses compared to others in our industry and to seek their support for improvement initiatives. It also provided confidence that various aspects of our operations are indeed best practice.
In this global economy where the change is constant, we need to explore and understand what’s happening in the surrounding marketplace for the continuation of our business. To do so, we benchmark ourselves among well-known companies through Juran Benchmarking.