BENCHMARKING

BENCHMARKING

It is the practice of comparing business processes and performance metrics to the best practices from other companies.

And also it is a technique initially used to compare existing corporate strategies with a view to achieving the best possible performance in new situations, which has recently been extended to the comparison of technical products. This process is usually referred to as "technical benchmarking" or "product benchmarking".

there is a 12 stage methodology is followed in the benchmarking procedure,

1. Select subject
2. Define the process
3. Identify potential partners
4. Identify data sources
5. Collect data and select all partners
6. Determine the gap
7. Establish process differences
8. Target future performance
9. Communicate
10. Adjust goal
11. Implement
12. Review and recalibrate.

Benchmarking is also well-developed within the automotive industry, where it is vital to design products that match precise user expectations at minimal cost, by applying the best technologies available worldwide. Data is obtained by fully disassembling existing cars and their systems. Such analyses were initially carried out in-house by carmakers and their suppliers.

However, as these analyses are expensive, they are increasingly being outsourced to companies who specialize in this area. Outsourcing has enabled a drastic decrease in costs for each company (by cost-sharing) and the development of efficient tools.

As per this procedure, I have done the benchmarking on cars of about 8-10 lakhs.

Customer requirements:

• 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.

BENCHMARKING OF CARS:

Types of cars:-

• Nissan Magnite
• Suzuki Ertiga ZXI
• KIA Seltos THE 1.5
• Hyundai VENUE S 1.2 CRDI

These are the best of best cars under his budget and seating capacity requirements.

from these four I have filtered and suggesting the two cars which have good mileage and average speed with more boot space for bags with five members seating capacity as mentioned, in these two he can choose anyone by referring to their family.

CONCLUSION:

• If he will stand for comfort and choose a car for long trips he can go for KIA seltos which is having more boot space and has six gear speed with an average mileage of 16-17kmpl.
• But if he goes for mileage and average speed pickup capacity, then he can choose Hyundai venue which gives 21-23kmpl mileage with a tank capacity of 45ltr more than enough for long trips.