Benchmarking

BENCH MARKING :-

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, aka “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 BENCH MARKING :-

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.

BENCH MARKING IN AUTOMATIVE INDUSTRY :-

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.

Bench marking contents :-

COMPARISION BETWEEN 4 VEHICLES :-

comparision between Kia Sonet , Hundai Venue, Tata Nexon, Mahindra XUV300 :-

1. Kia sonet :-