Benchmarking

AIM:- To prepare a report explaining what is Bench-marking , Compare at least 4 Vehicles and Provide a Preoper conclusion for the report ,suggesting a suitable vehicle among the comparison made.

What is Benchmarking ?

Benchmarking is defined as the process where you measure the company’s success against the most formidable competitors in the market. It helps you discover the underlying gap in your success and work towards it. It helps improve your company’s performance and enhance its efficiency.

Benchmarking involves a structured comparison between similar products,services or processes on some dimensions of performance. For example it can be used to compare the availability and delivery of features in a product and in this
form often provides the basis of consumer tests and reviews. These look at products and services and provide recommendations based on which is best or some form of ranking amongst competitors.

It is particularly useful when comparing not only performance but also practice –in other words what do the different organizations do to enable that performance to be delivered? And applied in this way it is a powerful tool in
process innovation sin e studying how the ‘best’ achieve their performance can provide powerful clues for changing the way processes operate. Process benchmarking of this kind can operate at several levels:
• Between similar processes in the same factory or service branch
• Between different factories or service branches
• Between different competing organizations
• Between different sectors using the same process

Whilst if offers a significant learning opportunity benchmarking between competing organizations is harder than the other three because competitors do not want to disclose their process information since it is a source of competitive
advantage to tem. So benchmarking of this kind often involves a third party who can collect the data, make the comparison and provide feedback but all on a confidential basis.

A good example of this was the Automobile Industry Benchmarking Study at the heart of a long-running programme organized by MIT with other academic partners around the world called ‘The future of the automobile’. This programme was co-funded by most of the major auto industry players and explored a variety of aspects of the industry including product design and innovation, service delivery, retailing and supply chain management. Its results appeared in many books and articles and over a sustained period of time provided a powerful stimulus for change in the industry. The benchmarking study was the most influential, giving birth to the concept of ‘lean’ thinking which revolutionized first car making and then other manufacturing beforediffusing into services and the public sector. The original study was published in
1991 under the title’ The machine that changed the world.

The Benefits of Benchmarking

Benchmarking helps in organising the focus on the external environment and improving the efficiency of the process. It promotes change by allowing employees to understand the performance of what they are achieving and how they should compare to others to achieve success.

1. Competitive Analysis

By identifying the problems and working towards them to improve your business, you can strive to enhance the execution of your work. It also allows companies to gain an advantage over their competitors and grow in their respective industries.

2. Monitor Performance

Benchmarking is looking at the current data and future trends to aim at what you want to achieve. This process needs to be continuous to be successful, and hence benchmarking is an effective way of monitoring the inherent characteristics.

3. Continuous Improvement

Benchmarking helps you improve every attribute by enhancing some aspects of the business. It is a continuous process that cannot be overlooked over time.

4. Planning and Setting of Goals

Once the problems have been examined, the next step is to carry out goals and performance metrics to improve the performance. Companies must set up realistic goals that can be fulfilled with constant effort, and it is essential to set goals that motivate the team to work towards progress.

5. Ownership

When the company figures out where they want to progress, they have to discuss things and make solid decisions. It requires the team to talk to each other and understand their goals. Thus, benchmarking helps make teams take pride in their jobs and the work they do.

6. Understand Companies Advantages

Benchmarking is not just the process of circling out problems, but it also helps in giving a detailed report of where the company is excelling. It provides a realistic idea of where the company stands and how it can improve. It is a great way to achieve your goals.

Requirement of Customer

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.

According to the CUSTOMER he required a car for his family which is good in appereance and as well as should provide good mileage , safety,and good interior as well as should have features

Mr D.S Pughazhyendhii requirements are as follows:-

• 5-7 seats for his family members.
• Budget: Rs. 8-10 Lakhs/-, on road price
• Good Mileage
• Good car for easy commuting within city and long drive as well.
• He is also fond of big cars.
• 5-7 seats for his family members.

In Todays conditions most of diesel model of compact suv cars almost cost more than 10 Lakh on road so in diesel hatchback is the only option

Suggested cars that fits this requirements:-

1. TATA Punch
2. TATA NEXON XM (PETROL)
3. Hyundai Venue S (PETROL)
4. Kia Sonet 1.2 HTK( petrol)
5. TATA Altroz XE Plus (Diesel)
6. Nissan magnite (petrol)

1st TATA Punch

Key Specification of TATA punch petrol

ARAI Mileage	18.82 kmpl
City Mileage	14.42 kmpl
Fuel Type	Petrol
Engine Displacement (cc)	1199
No. of cylinder	3
Max Power (bhp@rpm)	84.48bhp@6000rpm
Max Torque (nm@rpm)	113Nm@3300+/-100rpm
Seating Capacity	5
TransmissionType	Automatic/manual
Boot Space (Litres)	366
Fuel Tank Capacity	37.0
Body Type	SUV
Service Cost (Avg. of 5 years)	Rs.4,712

Features of tata punch

Multi-function Steering Wheel

Power Adjustable Exterior Rear View Mirror

Touch Screen

Engine Start Stop Button

Anti Lock Braking System

Alloy Wheels

Fog Lights - Front

Power Windows Rear

Power Windows Front

Wheel Covers

Passenger Airbag

Driver Airbag

Power Steering

Air Conditioner

Note:- TATA Punch achieved 5 star rating in Global NCAP crash test

2nd TATA NEXON ( PETROL)

Key Specifications TATA Nexon XM