Benchmarking

1. Benchmark with present available cars in market for the following case

And compare of vehicles :

Monthly Kms including Madhurai return and office in bangalore = 1000 + (30*22) = 1660= 1700Kms

(Approx). For the cost of vehicle I am assuming on road price to be considered. Also assuming Pughazhyendhii

comes from middle class family, so he will be using this car for 5-7 years. Having desent Kms running every

month and will use the car for 5-7 years, a diesel car will be more economical to DSP.

	Dzire VDI	Amaze S Diesel	Venue 1.2 S	Ertiga Vxi	Tigor XZ Plus Diesel	Xcent SX
Price (Lakh)	9.08	9.39	8.63	9.88	9.78	9.73
Type	Compact Sedan	Compact Sedan	Compact SUV	MUV	Compact Sedan	Compact Sedan
Mileage (Kmpl)	22-28	20-25	15-18	16-19	18-22	18-22
Safety Rating Out of 5	3	4	4	3	4	4
Maintanence cost(Rs) (5 years)	24000	28000	18000	27000	50000	18000

These are the cars I think will come in DSP\'s bugdet and also serve the purpose. My recommendation is

to go for Honda Amaze. It has a decent safety rating, good mileage, enough space for 5 people and luggage.

The serice cost of Amaze is 28000 for 5 years which is quite economical as well.

If DSP is looking for bigger car in that bugdet than the options are very limited. In that case the new

Hyundai Venue is definitely option to consider. He can get a good petrol model in that price bracket.

WHAT IS BENCHMARKING :

Benchmarking is a process where you measure your company’s success against other similar companies

to discover if there is a gap in performance that can be closed by improving your performance. Studying other

companies can highlight what it takes to enhance your company’s efficiency and become a bigger player in

your industry.

THE BENEFITS OF BENCHMARKING :

• Competitive analysis

By identifying areas you wish to improve on in your business and benchmarking your existing performance

against competitors, your business can strive to enhance your execution tenfold. Using benchmarking this way

has allowed businesses to gain strategic advantages over competitors and grow industry averages.

• Monitor performance

Benchmarking involves looking at current trends in data and projecting future trends depending on what you

aim to achieve. In order to know you have been successful, benchmarking needs to be a continuous process.

Monitoring performance is an inherent characteristic of it.

• Continuous Improvement

As well as monitor performance, continuous improvement is an essential attribute of benchmarking. This is

because the aim of benchmarking is to improve a certain element of a busniess. This improvement should not

merely be something that improves once and is forgotten, but something that improves over time and is

continuous.

• Planning and Goal Setting

Once benchmarking has been carried out, goals and performance metrics are set in order to improve

performance. These goals are new, more competitive targets for a company but they must be achievable. If

goals are unrealistic to achieve teams become demotivated and goals are destined to remain unfulfilled.

• Encourage Ownership

When companies look at their processes and metrics they need to ask hard questions to get all the

answers they need. This includes talking to everyone in the business and understanding their roles. By asking

these questions and gaining a better understanding of everyone’s role, ownership for processes and

performance is encouraged. This pride leads to better performance and higher-quality end results.

• Understand Your Companies Advantages

Benchmarking identifies where your company is right now compared to where you want it to go. If you are

looking at improving any process in your business, benchmarking is a way of looking at how you can excel and

become more successful through outlining the steps needed to achieve your goal.

BENCHMARKING PROCESS :

• Planning

The first stage of benchmarking is the most important in the process. Planning includes highlighting what

you want to improve, who you will benchmark yourself against, and how you envisage success. Only once this

step has been completed will you be able to move onto the next step as the results of planning will focus on

the information you need to collect and what success will look like.

• Collection of Information

After planning, benchmarking is about collecting information on your processes and how competitors do

them. If you are looking to improve your customer service satisfaction rating you should understand the

processes involved in the department, how calls and communication are dealt with, and also how it differs

from your competition. Maybe you can talk to someone in another call center, or call the center directly to gain

first-hand knowledge of their processes. At this point, it is important to gather as much information as

possible.

• Analysis of Data

Once you feel you have all the information you can gather, you can start to plot it and begin to understand

the shortcomings you may have. It is important to remember at this point in the process that no business is

perfect and you must have an open mind to be able to analyze information objectively. Once findings start to

be uncovered you can draft a report and start discussing the next steps to achieve better performance in this

area.

• Action

Presenting findings to a department is never an easy thing, especially when you are proposing changes.

Gathering and analyzing information is only worthwhile when you can implement changes and better the

company in the process. so make sure the MVP you present is accepted and will likely equate to the success

highlighted in the planning stage.

• Monitoring

No plan is ever complete without monitoring results to determine how successful the plan has been. The

implementation phase will have highlighted metrics and goals for success within a time frame so monitoring

these is the only way of konwing efficiency of process. Monitoring can be over a short or long period of time

depending on the desired outcomes.

VEHICLE IMAGES :

DZIRE VDI

Amaze s disel

venu 1.2 s

ertica vxi

Xcent Sx

THANK YOU