As an Amazon Associate I earn from qualifying purchases.

What is Benchmarking in Supply Chain Management? PDF | Download eBooks

Learn Benchmarking definition in supply chain management with explanation to study “What is Benchmarking”. Study benchmarking explanation with SCM terms to review supply chain management course for online MBA programs.

Benchmarking Definitions

  1. Selecting a demonstrated standard of performance that represents the very best performance for a process or an activity.

    Operations Management: Sustainability and Supply Chain Management by Jay Heizer, Barry Render, Chuck Munson



  2. Activity of comparing methods and/or performance with other processes in order to learn from them and/or assess performance.

    Operations Management by Nigel Slack, Alistair Brandon-Jones, Robert Johnston



Benchmarking Explanation

Organizations measure the performance of their products and services against other organizations with the help of benchmarking process. This can be done by identifying the firms internal opportunities and strengths and then set a point of benchmarking. After this compare the company's performance with that point that is set as benchmarking point.

Benchmarking Explanation

Benchmarking is a procedure of estimating the exhibition of an organization's items, administrations, or procedures against those of another business viewed as the best in the business, otherwise known as "top tier." The purpose of benchmarking is to recognize inward open doors for development. By considering organizations with predominant execution, separating what makes such unrivaled execution conceivable, and afterward contrasting those procedures with how your business works, you can actualize changes that will yield noteworthy enhancements. That may mean tweaking an item's highlights to all the more intently coordinate a contender's offering, or changing the extent of administrations you offer, or introducing another client relationship the executives (CRM) framework to empower progressively customized correspondences with clients. There are two essential sorts of progress openings: ceaseless and sensational.

Keep Learning Supply Chain Management Explanations

What is Naive Approach?

Organizations use different techniques to forecast and one of them is naive approach. In this approach firms use previous data ...

What is Capacity?

Limit is frequently characterized as the capacity of an item, regardless of whether it is a machine, work focus, or ...

What are Core Competencies?

Core competencies generate the value of product and attract the customer to buy your product over others. These competencies are ...

What is Enterprise Resource Planning (ERP)?

Venture asset arranging is business process the board programming that enables an association to utilize an arrangement of coordinated applications ...

What is Efficient Consumer Response (ECR)?

Proficient Consumer Response is a system to expand the degree of administrations to shoppers through close participation among retailers, wholesalers, ...

What are Time Fences?

Time fences are limits between various periods in the arranging skyline. They characterize transient districts inside which arranging confinements limit ...