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Benchmarking Definition and Explanation 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.

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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.

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