Benchmarking

A REPORT ON

1. WHAT IS BENCHMARKING
2. CASE STUDY

WHAT IS BENCHMARKING?

• It 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.
• Benchmarking is used in business operations to measure themselves against internal or external standards. Benchmarking can be used to measure internal progress, performance against competitors and how their processes rank against world-class organizations.
• In simple we can define benchmarking as the process of analyzing the choices of similar products based on the selection factor and deducing it to final conclusion.

Importance of Benchmarking

• Measure the effectiveness of past performance.
• Improve procedures & processes.
• Enhance consumer satisfaction.
• Offers you a better perspective of how the competition operates, which will help you to find best practices to amplify performance.
• Increase efficiency & decrease costs, making your business more profitable.

Types of benchmarking

1. Competitive or performance benchmarking

It is used when a company wants to evaluate its position within its industry. This type of benchmarking is very critical for all industries. Performance benchmarking helps in maintaining a competitive edge in an industry as high performance directly impacts the business performance of an organization. Customers would be more willing towards a company with better performances and this trust restores better business ultimately enabling a better business transformation.

2. Internal benchmarking

It is used when a company already has accepted and proven best practices and simply needs to share them. Depending on the size of the company, it may be large enough to represent a wide range of performance (i.e., cycle time for opening new accounts in branches coast to coast). This benchmarking practices in terms of continuous development of teams and individuals is very beneficial.

3. Strategic benchmarking

It is used when identifying & analyzing world-class performance. Six sigma often uses hoshin kanri to make sure that all employees are knowledgeable about the strategic direction of the company. Within a company’s hoshin plan, objectives are established relative to benchmarks set by world-class organizations.

4. Process benchmarking

This is applied for a process that can act as a center of excellence and help an organization to expand their business by capturing similar processes or outsource their benchmarked process to attain operating cost benefits.

CASE STUDY

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, a five-year-old boy, his father, and his mother. He visits his native place Madurai which is 500kms away from Bangalore once 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 options so that he will buy a good car for his family.

Note: Here Pughazhyendhii is found of big cars

THE REQUIREMENTS OF MR. D.S. PUGHAZHYENDHII ARE:

• Price range: 8 to 10 lakhs on road.
• Capacity: For 5 members
• Distance covered every month: 1800km to 2200 km
• Usage: Daily usage

1.NISSAN MAGNITE:

Nissan magnite is a 5-seater SUV available in a price range of Rs. 5.88 - 10.36 lakh. It is available in 23 variants, a 999 cc, bs6 and 2 transmission options: manual & automatic.

other key specifications of the magnite include a kerb weight of 1039, ground clearance of 205 and boot space of 336 liters. The magnite is available in 8 colors.

Key specifications of Nissan magnite

Arai mileage 17.7 kmpl

City mileage 13.6 kmpl

Fuel type -petrol

Engine displacement (cc) 999

No. Of cylinder- 3

Max power (bhp@rpm) 98.63bhp@5000rpm

Max torque (nm@rpm) 152nm@2200-4400rpm

Seating capacity 5

Transmission type automatic

Boot space (liters) 336

Fuel tank capacity 40.0

Body type SUV

Price 7 lakhs

Pro's:

1. Explosive/disparate looks
2. Automatic convenience
3. Packs a punch
4. Quick off-the-mark

Con's:

1. Not robustly-built
2. Dealer network is a gamble

2.TATA NEXON:

Is a 5-seater SUV available in a price range of Rs. 7.55 - 13.90 lakh. It is available in 65 variants, 2 engine options that are bs6 compliant and 2 transmission options: manual & automatic. Other key specifications of the nexon include a kerb weight of, ground clearance of 209 and boot space of 350 liters. The nexon is available in 7 colors.

Key specifications of tata nexon;

Arai mileage 21.5 kmpl

City mileage 18.5 kmpl

Fuel type petrol

Engine displacement (cc) 1497

No. Of cylinder 4

Max power (bhp@rpm) 108.49bhp@4000rpm

Max torque (nm@rpm) 260nm@1500-2750rpm

Seating capacity 5

Transmission type automatic

Boot space (liters) 350

Fuel tank capacity 44.0

Body type SUV

Ground clearance unladen 209

Service cost (avg. Of 5 years) rs.4,447

Price 8.55 lakhs

Pro's:

1.looks stunning with a strong road presence

2. Impressive ride quality

3.easy-to-drive with good handling

4.feature-packed

5. Safe car with solid build quality

Con's:

1. Uninspiring bottom-end engine performance
2. Mediocre fuel efficiency

3.HYUNDAI VENUE 2022:

Hyundai venue is a 5-seater SUV available in a price range of Rs. 7.53 - 12.72 lakh. It is available in 16 variants, 3 engine options that are bs6 compliant and a single manual transmission. Other key specifications of the venue include a kerb weight of and boot space of liters. The venue is available in 7 colors.

Key specifications of Hyundai venue;

Fuel type - petrol

Engine displacement (cc) 998

No. Of cylinder - 4

Max power (bhp@rpm) 118.41bhp@6000rpm

Max torque (nm@rpm) 172nm@1500-4000rpm

Seating capacity- 5

Transmission type- manual

Mileage 17.52 km/ltr

Fuel tank capacity 45.0

Price - 8 lakhs

Body type- SUV

Chassis type: Monocoque

Pro's:

1. The venue comes with the design and proportions of a proper SUV. It's also one of the most attractive offerings in this segment.
2. Hyundai has an array of powerful and efficient engines on offer with the venue - a frugal 1.2-litre petrol engine, a powerful 1.0-litre turbo petrol, and for the diesel lovers, a capable 1.5-litre oil burner.
3. The venue is also backed by Hyundai’s strong after-sales support. The SUV also comes with 3 years / unlimited km warranty, along with 3 years of road side assistance (rsa) service.
4. The venue is smartly priced. With prices starting at ₹ 6.99 lakh and going up to ₹ 11.85 lakh (ex-showroom) the Hyundai venue offers great value.

Con's:

1. The styling of the venue might not attract those looking for a bold, flashy SUV with a lot of chrome accents.
2. While features packed, the cabin space inside the venue is not the best, especially at the rear. It's a 4-seater SUV at best and taller occupants might not be very comfortable on long journeys.

3.no automatic diesel option on offer. All other subcompact SUVs with a diesel engine come with automatic options, either an amt or in the case of the sonet, a proper torque converter.

4. KIA SONET:

Kia sonet is a 5-seater SUV available in a price range of Rs. 7.15 - 13.69 lakh. It is available in 21 variants, 3 engine options that are bs6 compliant and 2 transmission options: automatic & manual. Other key specifications of the sonet include a kerb weight of and boot space of 392 liters. The sonet is available in 10 colors.

Key specifications of kia sonet;

Fuel type -diesel

Engine displacement (cc) 1493

No. Of cylinder - 4

Max power (bhp@rpm) 113.43bhp@4000rpm

Max torque (nm@rpm) 250nm@1500-2750rpm

Seating capacity 5

Transmission type automatic

Boot space (liters) 392

Fuel tank capacity 45.0

Body type SUV

Service cost (avg. Of 5 years) rs.3,980

Price 8.89 lakhs

Pro's:

1. The kia sonet is a good-looking SUV, and its aggressive design and styling are also one of the reasons why customers are opting for this subcompact SUV. In fact, in our opinion, the sonet is the best-looking SUV in the sub-4-metre space.
2. The sonet also comes with a great choice of engine options - a 1.2-litre naturally aspirated petrol motor, a 1.0-litre turbocharged petrol engine and a 1.5-litre diesel mill. Kia also offers 5 transmission choices with the sonet - 5-speed mt, 6-speed mt.

Con's:

1. The cabin of the kia sonet is a bit cramped, especially at the rear. In fact, we would say it is a 4-seater SUV because three average-sized adults cannot really sit comfortably in the second row of sonet.
2. The sonet falls a bit short when it comes to handling, and on corners and turns, you will definitely feel a bit of body roll. The steering too can only be adjusted for height but not for reach.

Conclusion:

• By observing above all the model in the customer requirement point of view we can conclude that the suitable model is Hyundai Venue .

• Because it is with in the Budget of 8 lakhs integrated with all new latest technologies comparing to milage it gives 18 km/ltr
• It is the best safest vehicle among all which all are having presently, the crash test result very good compared to others.
• The seating capacity is also 5 and provided with back pack comfortable luggage.
• The model also looks very interesting and stylish, in nexon series we have different variants which are within the range of 8 to 10 lakhs only.
• It's testament to how good the older compact SUV still are, despite the newer one adding more plish, that the points are also so close between them all. The swift is a bestseller was Hyundai itself, it does most things reasonably well, and will go the furthest on every liter of fuel.
• Whereas the tata nexon was very quiet interesting model but in it variant it ranges high compared to Hyundai but in milage wise nexon gives more milage.
• Coming to Kia sonet which are new and upcoming manufactures from the Kia motor, based on our requirements the kia sonet is very good in comfort and specification but cost ranges little higher than all.
• Here the Nissan Magnet which is an latest model from Nissan, comparing all its sounds less cost which nearly 7 lakhs, but coming to comfort and condition and features of Nissan not as much updated as other manufactures, in milage, pickup all similar to new models, but interior and some of factors are not good.so due to it the model was quite not famous in market.
• The best and suitable for all condition vehicle is Hyundai Venue .so I suggest the venue model for the customer to go on.