Benchmarking is a process of finding the best practices within and outside the industry. It helps in setting standards and finding ways to match own performances with the best performances in the competitive market.
It always focuses on continuous improvement in search for competitive advantage.
Every firms can use benchmarking process to achieve improvement in diverse range of management function such as follows:
• Maintenance operations,
• Assessment of total manufacturing costs,
• Product development,
• Product distribution,
• Customer services,
• Plant utilisation levels; and
• Human resource management.
Please mark your satisfactory level...
My Dear ,
I thank you for marking the answer as satisfactory.
I have noted.
It will be very nice and helpful to our other members (and the answerer too) if you mark your satisfaction level on the grade scale below.
Please feel free to mark any point. I don't share it with anyone. I use it for doing my internal calculations only. I use these calculations to evaluate the service performance of the relevant virtuoso.
Here is the grade scale:
Thank you,
Yours sincerely,
Anu, Thakurani's bestie