Benchmark
Benchmarking is the systematic comparison of your company's performance with that of the best in the industry or defined standards. The aim is to recognise gaps in our own performance, learn from leading practices and implement strategic improvements.
Objectives and advantages of benchmarking
Through benchmarking, we endeavour to identify proven processes, increase efficiency and boost productivity. This approach enables companies to improve their competitiveness by focussing not only on their competitors, but also on industry-wide best practices.
Our approach to benchmarking
At Costmind, we use both qualitative and quantitative methods to create comprehensive benchmarks. Our analyses include comparisons of products and services through to production processes and location factors in order to paint a holistic picture of your company’s performance.
Benchmarking beyond the competition
Benchmarking allows companies to identify performance gaps and adapt industry-leading practices. This increases efficiency and productivity by adopting best practices, which improves quality and customer satisfaction.
By providing insight into the success strategies of others, benchmarking stimulates innovation and creative problem-solving. It inspires the introduction of new technologies and processes that drive the company forward.
Benchmarking strengthens the competitive position by enabling companies to continuously measure and adapt their performance against the best. This leads to optimised performance, increased profit margins and sustainable growth.
Benchmarking methods and processes at Costmind
What are the costs of the various product functions offered by competitors?
Through transparency in the assembly/functional costs of competitors, we show you technical and commercial fields of action.
Is the purchase price level of the individual components of the in-house product competitive?
In comparison with your priced parts list, we use our calculation results to show you your areas of action in purchasing. With these approaches, we offer you a detailed lever for cost optimisation for your new products as well as for current series products.
In which areas is the competition technically more favourable?
Based on detailed calculations and our design-to-cost expertise, we can jointly define optimised design, technology and supplier chains.
Are the in-house production costs at an economical level compared to external procurement?
We also support you in comparing in-house production costs with our calculation with detailed optimisation approaches (production concept, calculation assumptions, internal calculation specifications) for a competitive internal cost structure.
Can efficient solutions from competitors be adopted?
We create calculative transparency for competitive design. On this basis, we enable detailed technical and commercial optimisation options for your future product
Does the competitor have advantages in terms of location or regional markets?
By simulating the various cost factors, we can visualise various situations with corresponding cost changes. By simulating the various cost factors, we can visualise various situations with corresponding cost changes.
Strategic advantages through targeted benchmarking
Targeted benchmarking enables companies to sharpen their strategic focus and gain sustainable competitive advantages. Through systematic comparison with the best in the industry, this tool reveals hidden potential and promotes a culture of continuous improvement. It helps organisations to anticipate market trends, implement efficient processes and drive innovation. As a result, companies can optimise the use of their resources, strengthen their market position and secure long-term growth.
- Increased performance
- Innovation promotion
- Cost reduction
- Improve customer orientation
- Strategic decision-making
Ensuring long-term competitiveness
Get to know us in a personal meeting!
We cordially invite you to get to know Costmind and our experts in a personal meeting. Take the opportunity to find out more about our services, discuss your specific requirements and discover how we can help your organisation become more efficient and cost-effective.
Frequently asked questions
The aim of benchmarking is to identify proven processes, increase efficiency and productivity and improve competitiveness by focussing on industry-wide best practices.
Costmind uses qualitative and quantitative methods for comprehensive benchmarks, including comparisons of products, services, production processes and location factors.
Costmind considers internal benchmarks and cross-industry best practices to develop innovative solutions and improvement strategies that go beyond traditional competitive comparisons.
Benchmarking stimulates innovation and creative problem solving by providing insight into the success strategies of others and inspires the introduction of new technologies and processes.
