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PAGE 25 Benchmarking Tool Kit February 1996  Benchmarking Tool KitTable of Contents I. Benchmarking Overview Definition Deliverables3 Benchmarking Roadmap Overview 4 II. Benchmarking Roadmap Step 1: Identify Processes for Improvement 5 Step 2: Clarify Understanding of Current Processes 6 Step 3: Identify “Best Practice” Companies 7 Step 4: Create Incentive for the Benchmarking Target Company 8 Step 5: Make Contact with the Benchmarking Target Company 9 Step 6: Send Confirmation Letter10 Step 7: Prepare For and Conduct the Benchmark Visit 11 Step 8: Summarize Benchmark Findings 12 Step 9: Send out Thank You Note 13 Step 10: Adapt and Incorporate Best Practices 14 III. Appendix A. The Benchmarking Code of Conduct 15 B. Potential List of Deliverables for Benchmarking Target 17 C. Initial Contact Script for Recruiting Benchmarking Partners 18 D. Example of Confirmation Letter 21 E. Brainstorming Aid to Develop Benchmarking Questions 22 F. Analyze Benchmark Data 23 G. Thank You/Follow-Up Letter 24 G. Adapt and Incorporate Best Practices 25 Benchmarking Overview Definition and Background Benchmarking is defined by the International Benchmarking Clearinghouse (IBC) as: “... a systematic and continuous measurement process; a process of continuously comparing and measuring an organizations business processes (products, services and practices) against business leaders anywhere in the world to gain information which help(s) the organization take actions to improve it’s performance.” The IBC has also developed a “Code of Ethics” (Appendix A) to serve as an international standard for conducting benchmarking engagements. Please read the code prior to executing your benchmarking study. Deliverables As a study, Benchmarking should provide the following outputs: - Measures that compare the benchmarked process, or metric, or strategy or operations against your business processes, metrics, strate