Benchmarking
AUTOMOTIVE BENCHMARKING Benchmarking is the process of comparison of similar products on some dimensions of performance Automotive Benchmarking is the process of analyzing the choices of similar products based on the selection factor and deducing it to final conclusion.
The types of benchmarking in automotive industry
There are four main types of benchmarking: internal, external, performance, and practice.
The Four Phases Of Successful Benchmarking
- Phase 1: Current State Assessment.
- Phase 2: Benchmarking Participant Identification.
- Phase 3: Comparative Analysis.
- Phase 4: Strategic Prognosis.
The two types of benchmark
There are two primary types of benchmarking:
- Internal benchmarking: comparison of practices and performance between teams, individuals or groups within an organization.
- External benchmarking: comparison of organizational performance to industry peers or across industries.