Benchmarking

BENCHMARKING

Benchmarking is a process of measuring the performance of a company's products, services, or processes against those of another business considered to be the best in the industry,"best in class." The point of benchmarking is to identify internal opportunities for improvement. By studying companies with superior performance, breaking down what makes such superior performance possible, and then comparing those processes to how your business operates, you can implement changes that will yield significant improvements.

That might mean tweaking a product's features to more closely match a competitor's offering, or changing the scope of services you offer, or installing a new customer relationship management (CRM) system to enable more personalized communications with customers.

There are two basic kinds of improvement opportunities: continuous and dramatic. Continuous improvement is incremental, involving only small adjustments to reap sizeable advances. Dramatic improvement can only come about through reengineering the whole internal work process.

STEP-BY-STEP BENCHMARKING

Benchmarking is a simple, but detailed, five-step process:

Choose a product, service, or internal department to benchmark.

Determine which best-in-class companies you should benchmark against, which
organizations you'll compare your business to.

Gather information on their internalperformance, or metrics.

Compare the data from both organizations to identify gaps in your company's performance.

Adopt the processes and policies in place within the best-in-class performers.

Benchmarking will point out what changes willmake the most difference, but it's up to you to
actually put them in place. In order to benchmark anything, you need to have quantitative data available to study. That means breaking down internal processes to calculate performance metrics. Quantify everything, because only quantifiable information can be accurately compared.

BENEFITS

In addition to helping companies become more efficient and profitable, benchmarking has other benefits, too, such as:
Improving employee understanding of cost structures and internal processes Encouraging team-building and cooperation in the interests of becoming more competitive Enhancing familiarity with key performance metrics and opportunities for improvement company-wide In essence, benchmarking helps employees understand how one small piece of a company's processes or products can be the key to major success, just as one employee's contributions can lead to a big win.

REQUIREMENT

Benchmark with presently available cars in the market for the following case.

Mr. D.S. Pughazhyendhii is a married man who lives in Bangalore which is a highly crowded city. His Family comprises five members including his wife, five-year-old boy, his father, and his mother. He visits his native place Madurai which is 500kms away from Bangalore once in a month. Also, he will be using his car to commute to his office. His budget falls between 8 to 10 lakhs on road. Please suggest to him with options so that he will buy good car for his family.

Note: Pughazhyendhii is fond of big cars In my view, I would suggest Diesel Engine Vehicle, SUVs and Sedans is preferrable.

SUGGESTIBLE CARS
1. Tata Nexon
2. Hyundai Venue
3. Maruti Suzuki Vitara Brezza
4. Ford Eco Sport

TATA NEXON

Pros:
1. Best in class safety package
2. Powerful engines (petrol & diesel)
3. Ride and feels like a big vehicle
Cons:
1. Quality of plastic inside the cabin
2. Sluggish infotainment
3. Slightly hard ride

MODELS
SPECIFICATIONS
TATA NEXON

ARAI Mileage 21.5KMPL

Transmission Type
Automatic
Fuel Tank Capacity
44
Max Power (bhp@rpm) 108.5bhp@4000rpm
Seating Capacity 5
Boot Space (Litres) 350 Body Type SUV
Safety 16.06/17

HYUNDAI VENUE

Pros:
1. Ease of driving on offer
2. Three different engine options
3. Feature loaded

Cons:
1. Isnt as big as rivals
2. No diesel automatic on offer
3. 1.2 petrol is weak on punch

MODEL SPECIFICATIONS HYUNDAI VENUE

ARAI Mileage
18.14kmpl
Engine Displacement (cc)
998
Max Torque (nm@rpm)
171.6Nm@1500-4000rpm

Transmission Type Automatic
Fuel Tank Capacity
45
Max Power (bhp@rpm) 118.35bhp@6000rpm
Seating Capacity 5 Boot Space (Litres) 350
Body Type SUV
Safety 4 stars NCAP rating

BREZZA

Pros:
1. Peppy & efficient 1.5 petrol
2. Good value for money
3. Neutral ride, easy to drive

Cons:
1. No more diesel option
2. Rivals offer more space
3. Design isni¿½t attractive as before
MODELS SPECIFICATIONS MARUTI SUZUKI VITARA BREZZA
ARAI Mileage 18.76kmpl
Engine Displacement (cc) 1462 Max Torque (nm@rpm) 138Nm@4400rpm

Transmission Type Automatic
Fuel Tank Capacity 48
Max Power (bhp@rpm) 103.26bhp@6000rpm
Seating Capacity 5
Boot Space (Litres) 328
Body Type SUV
Safety 12.51/17

FORD ECO SPORTS

The Ford Ecosport is considered as one of the best sub-4m compact SUVs currently on sale in the Indian market. The car gets powerful and refined engines and also comes with an aggressive and appealing design language. If you in the market to buy a new compact SUV and wondering if the Ecosport is the best of all.
Pros:

1. Build Quality
2. Powerful and Responsive Engines
3. LoOkS
4. Driving Dynamics
5. Long List Of Safety Features

Cons:

1. Not So VFM
2. Feels Dated
3. Stiff Suspension Setup
4. Narrow Second Row
5. Thick A-Pillar Causes Blind Spot

MODELS SPECIFICATIONS FORD ECO SPORT
ARAl Mileage 21.7kmpl
Engine Displacement (cc) 1498
Max Torque (nm@rpm) 215Nm@1750-2500rpm
Transmission Type Manual
Fuel Tank Capacity 52
Max Power (bhp@rom) 98.63bhp@3750rpm
Seating Capacity 5
Boot Space (Litres) 352
Body Type SUV
Safety 4 stars NAP rating

COMPARING SPECIFICATIONS

TATA NEXON
HYUNDAI VENUE
MARUTI SUZUKI VITARA BREZZA
FORD ECO SPORT'

ARAI Mileage
21.5 kmpl
18.14kmpl
18.76kmpl
21.7 kmpl

Engine Displacement (cc)
1497
998
1462
1498

Max Torque (nm@rpm)
260Nm@1500-2750rpm
171.6Nm@1500-4000rpm
138Nm@4400rpm
215Nm@1750-2500rpm

Transmission Type Automatic

Automatic

Automatic
Automatic
Manual

Fuel Tank Capacity
44
45
48
52

Max Power (bhp@rpm)
108.5bhp@4000rpm
118.35bhp@6000rpm
103.26bhp@6000rpm
98.63bhp@3750rpm

Seating Capacity
5
5
5
5

Boot Space (Litres)
350
350
328
352

Body Type
SUV
SUV
SUV
SUV

Safety
16.06/17
4 stars NCAP rating

12.51/17
4 stars NCAP rating

CONCLUSION

I would suggest Tata Nexon for Mr. D.S. Pughazhyendhii family, Nexon is a excellent offering which is safest car in its segment. It is also value for money product with class leading features