benchmarking presentation for m.pharm quality assurance (QA) 1 semester 1 year of subject quality management system.

1. BENCHMARKING
PRESENTED BY
SHREYASH P. CHAUDHARI
M.PHARM QUALITY ASSURANCE, 1 SEM
SUBJECT
QUALITY MANAGEMENT SYSTEM
DR. RAJENDRA GODE COLLEGE OF PHARMACY, MALKAPUR

2. BENCHMARKING MEANS
"IMPROVING OURSELVES BY
LEARNING FROM OTHERS."

3. BENCHMARKING
• DEFINATION
BENCHMARKING IS THE
PROCESS OF IMPROVING
PERFORMANCE BY
CONTINUOUSLY IDENTIFYING,
UNDERSTANDING, AND
ADAPTING OUTSTANDING
PRACTICES FOUND INSIDE AND
OUTSIDE THE ORGANIZATION.

4. BENCHMARKING IS THE PROCESS OF COMPARING ONE'S BUSINESS PROCESSES
AND PERFORMANCE METRICS TO INDUSTRY BESTS AND/OR BEST PRACTICES
FROM OTHER INDUSTRIES.
• WHY ARE OTHERS BETTER?
• HOW ARE OTHERS BETTER?
• WHAT CAN WE LEARN?
• HOW CAN WE CATCH UP?
• HOW CAN WE BECOME THE BEST IN OUR INDUSTRY?

6. TYPES OF BENCHMARKING
1. PROCESS BENCHMARKING
2. FINANCIAL BENCHMARKING
3. PERFORMANCE
BENCHMARKING
4. PRODUCT BENCHMARKING
5. STRATEGIC BENCHMARKING
6. FUNCTIONAL BENCHMARKIN
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7. PROCESS OF BENCHMARKING
1.SETTING AN OBJECTIVE
2.IDENTIFY WHO/WHAT YOU WILL BENCHMARK AGAINST
3.GATHERING DATA
4.COMPARING DATA
5.IDENTIFY DRIVERS BEHIND DIFFERENCES
6.ESTABLISH AN ACTION PLAN TO IMBED BENEFICIAL CHANGES
7.IMPLEMENT
8.MONITOR AND REPEAT

9. ADVANTAGES OF BENCHMARKING
 IMPLEMENTS CREATIVE IDEAS
Beneficial aspects of the company are creatively implemented for the overall development of the
company
 INCREASED COMPETITIONS
Most of the time while doing business and while running a successful company, that company faces some strong
competition from the rest of the companies.
 DEVELOPING IMPROVEMENT
It deals with those findings of the company and another company which helps them find their position in
the business market.
 INCREASED PERFORMANCE
The benchmarking process, identifies all the features and elements of the company which can lead them
towards its success. And eventually, it also provides essential signals regarding the need and wants of the company.
 QUALITY OF WORK
The company identifies their strengths and weakness compared with the rest of the company, then it is
quite clear that all the aspects of the company need to be improved at a time to time basis.
.

10. DISADVANTAGES OF BENCHMARKING
STABILIZED STANDARDS
Most of the company compares their working environment with another company which is earning quite
well in a similar field of work. After finding out the reason for the improved success rates, the company can
incorporate those ideas of that company to improve their productivity. And eventually, they stabilize their standard
to that one aspect, without its course of action.
INSUFFICIENT INFORMATION
Sometimes it happens that while comparing the aspects of different companies, the information acquiring
company can be left behind with their information-gathering techniques.
LACK OF CUSTOMER SATISFACTION
The company finds out those outputs which can need to be improved and developed for the sake of the
overall growth of the company.
LACK OF UNDERSTANDING
The companies keep an eye on their competition instead of their own growth, it is quite clear for all the
company that such type of obsession with another company can not lead the company anywhere.