Competitive Benchmarking

Competitive Benchmarking

As the automotive and transportation industries continue to be both extremely cost-conscious and forward-looking in terms of product and process innovation, effective product strategies are essential for meeting both goals. Competitive benchmarking is essential to understand and strengthen the position of your product in comparison to your key competitors. At Ricardo Strategic Consulting (RSC), we provide our clients with key insights on competitive product features, technologies, and costs to assist in target setting throughout the product lifecycle, from portfolio planning to field service.

As a benchmarking leader in the automotive and transportation industries, we synthesize comparisons of the trade-offs between a product’s features and functional capabilities in relation to its size, weight, and/or cost to identify opportunities for optimization to improve our clients’ market competitiveness. We have established proprietary methods for evaluating and assessing highly engineered, serially manufactured products.

With over 10 years of experience in performance benchmarking with several organizations around the world, RSC possesses unrivalled benchmark data and process metrics. We provide the most comprehensive hybrid and electric vehicle benchmarking service in the world.

Our capabilities combine our expertise and experience in engineering and business, including:

  • Leveraging in-house technical experts in all areas of transportation equipment who are familiar with the latest developments in technology
  • Developing statistical cost modelling to generate market price estimates based on feature sets, manufacturing location, production volume, and commodity cost
  • Creating virtual production processes and determining variable cost and investment based on world-class manufacturing process simulation tools
  • Evaluating a company's relative cost position and identifying opportunities for improvement
  • Revealing Best-In-Class component designs, features, technology sets, and estimated costs
  • Identifying part consolidation and functional performance improvement paths
  • Understanding opportunities for new materials or manufacturing techniques

Our unique approach combines:

  • Acquisition of competitive components, disassembly, imaging, examination, and testing

  • Analysis of competitive components, feature set(s), technologies, manufacturing methods, and costs

  • Passing of all benchmarking data through a rigorous validation process, wherein each input is scrutinized and validated using both logical and statistical tests

  • Product teardown and expert technical analysis with a comprehensive evaluation of a product’s design execution

  • Performance of ‘top-down’ and ‘bottom-up’ cost calculations to increase understanding of a product’s cost structure

  • Development of clear comparisons between like components to inform clients on the key attributes for competitiveness