Chris said, “We were just discussing methods benchmarking. It is an immensely powerful tool to enable you to know how your products and processes compare with your competitors’. Knowing how your products and processes are positioned competitively inspires action to move them to a better, desired position. We call it advancing the benchmark.”
Chris advanced the slide and continued.
Figure 21.1 Benchmark position
“This slide illustrates the concept.”
Chris pointed the laser on the large double ended arrow and said, “This double-ended arrow represents a continuum of the COGS of a product or process. The continuum ...
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