![]() ![]() ![]() Companies that build a database with all relevant existing requirements and best-of-benchmark results have a rich pool of information to choose from to define the best starting point for concept requirements. The benchmarking also gives the company an opportunity to grasp innovative ideas from several suppliers. Using feedback from suppliers, the company then identifies the most cost-efficient concept to meet a customer need. During a best-of-benchmark effort, a company asks for quotes on its own and competitors' concepts. ![]() It also helps to identify the most concrete definition of requirements. A company makes an initial comparison of its own products and its competitors', which provides a good starting point to understand how customer needs are translated into requirements. ![]()
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