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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…

Babilu M S
updated on 11 Jul 2022

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 internal performance, 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 will make 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 a good car for

his family.

Pughazhyendhii is fond of big cars

Note:

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	21.5 kmpl
Engine Displacement (cc)	1497
Max Torque (nm@rpm)	260Nm@1500-2750rpm
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:

Ease of driving on offer
Three different engine options
Feature loaded

Cons:

Isn't as big as rivals
No diesel automatic on offer
1.2 petrol is weak on punch

MODELS / 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

MARUTI SUZUKI VITARA BREZZA

Pros:

Peppy & efficient 1.5 petrol
Good value for money
Neutral ride, easy to drive

Cons:

No more diesel option
Rivals offer more space
Design isnï¿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 SPORT

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:

Build Quality
Powerful and Responsive Engines
Looks
Driving Dynamics
Long List Of Safety Features

Cons:

Not So VFM
Feels Dated
Stiff Suspension Setup
Narrow Second Row
Thick A-Pillar Causes Blind Spot

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

COMPARISON

MODELS / SPECIFICATIONS	TATA NEXON	HYUNDAI VENUE	MARUTI SUZUKI VITARA BREZZA	FORD ECO SPORT
ARAI Mileage	21.5 kmpl	18.14kmpl	18.76kmpl	21.7kmpl
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	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.