As an Amazon Associate I earn from qualifying purchases.

Benchmarking Definition and Explanation PDF | Download eBooks

Learn Benchmarking definition in total quality management with explanation to study “What is Benchmarking”. Study benchmarking explanation with TQM terms to review total quality management course for online MBA programs.

Benchmarking Definition:

Benchmarking Explanation:

Benchmarking is a process that enables a company to measure its performance in all aspects i.e. products, process, services and compare it to another company that is considered best in the respective industry. Benchmarking is a method of improvement in performance of a company and allows to adopt the best practices of its competitors. For the process of benchmarking, the information is collected from the best within the industry and compare the internal operations in order to find the areas of improvement. The types of benchmarking are process benchmarking, financial benchmarking, performance benchmarking, product benchmarking, strategic benchmarking and functional benchmarking.

Keep Learning TQM Explanations

What is Factorial Design?

Processes need to be monitored and controlled. There are several techniques to do this e.g. designed experiments, statistical process control ...

What are Three Spheres of Quality?

In order to understand the broader concept of quality, three spheres of quality are studied. The three spheres of quality ...

What is Design for Six Sigma?

A new trend in manufacturing is to incorporate customers' needs and preferences in the process. This is usually done by ...

What is 2x2 Design?

A factorial design is a type of designed experiment that involves two or more variables with discrete levels. All possible ...

What is Design for Reliability?

It is important for a product to be reliable in addition to conformance to specifications. Reliability is a dimension of ...

What is RUMBA?

In the design phase of DMAIC process, the problem identification is done. For this, business case is developed which includes ...