Benchmarking

Benchmarking is a logical structured approach to searching for best practice.  It provides strategic  data and information that can be compared to similar information from other organisations.  Benchamrking are of four types product benchmarking, functional or process benchmarking, best practices benchmarking and strategic benchmarking.   

Product benchmarking has been prt of the practice of competitive evaluation for many years.  Process benchmarking emphasis on comparsion of a functional process like order entry, assembly, set up activities.   It is the nature of the process  requires persmission of the organisation being benchmarked, if

it is to be effective.  

Best practices benchmarking extends functional benchmarking by directing management focus on management practices as well as the elements of the functional processes .  Main purpose is to understand the philosophy and practices which enable good processes to perform exceptionally.

Strategic benchmarking starts with the proposition that unless the strategic direction of the targeted benchmark organisation is known it is unlikely that the exercie will prove to be successful.  



Article Written By manas

Pen is mightier than sword. It has always been and will be. Creative thoughts can be developed and circulated among the public to overall growth and development. Writing is the only way through which one can do the same. I have a deep inclination towards writing.

Last updated on 26-07-2016 106 0

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Value Chain