In Part 1 of this series introducing an upcoming project by LNS Research on Enterprise Quality Management Software, we discussed the Strategic Objectives many companies are pursuing on their journey towards continuous improvement. In this post, the second of five, we will examine the metrics companies are using to measure the success of strategic initiatives around quality management.
The concepts behind benchmarking research for industrial operations have been applied successfully by many leading organization in the world. However, many companies still struggle with the basics. Benchmarking, in the simplest terms, involve comparing performance to peers, understanding gaps in operations, and taking steps to close the gap and improve performance.
Many companies attempt to use benchmarking research to uncover hidden opportunities, implement best practices, and create a competitive advantage. Unfortunately, many companies fall short of their goals in these areas.
We are very excited to be delivering this first blog post. It means we are well on our way to launching LNS Research and changing the way executives percieve and use industry research.