How do you use other industries' best practices to improve your operational plan?

1 Benchmark your performance

One way to use other industries' best practices is to benchmark your performance against them. Benchmarking is the process of comparing your organization's metrics, processes, and outcomes with those of other organizations, either within or outside your industry. By benchmarking, you can identify your strengths and weaknesses, learn from the successes and failures of others, and set realistic and achievable targets for improvement. For example, if you are in the manufacturing industry, you can benchmark your operational efficiency, quality, and customer satisfaction with those of other leading manufacturers, or even with service providers who have similar processes.

2 Adopt proven methodologies

Another way to use other industries' best practices is to adopt proven methodologies that can help you streamline your operations, reduce waste, and increase value. Methodologies are systematic and structured approaches to solving problems, improving processes, and achieving goals. They provide frameworks, tools, and techniques that can guide your operational planning and execution. For example, if you are in the health care industry, you can adopt methodologies such as lean, six sigma, or agile that have been successfully applied in other industries such as manufacturing, software development, or finance.

4 Scan the external environment

A fourth way to use other industries' best practices is to scan the external environment that can help you anticipate and respond to the opportunities and threats that may affect your operations. Scanning is the process of gathering and analyzing information about the trends, events, and factors that influence your industry and organization. It can help you identify the drivers and barriers of change, assess the impact and implications of change, and adjust your operational plan accordingly. For example, if you are in the retail industry, you can scan the external environment for the best practices of other industries such as e-commerce, logistics, or social media that can help you optimize your distribution, marketing, and customer service.

Using other industries' best practices can help you improve your operational plan by providing you with insights, methods, partners, and foresight that can enhance your performance, efficiency, and value. However, you should not blindly copy or adopt other industries' best practices without considering your own context, goals, and capabilities. You should always evaluate the relevance, feasibility, and suitability of other industries' best practices for your organization and adapt them to your specific needs and situation.