Benchmarking
Benchmarking
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.
Step-by-Step Benchmarking
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
First Steps
In order to benchmark anything, you need to have quantitative data available to study. That means breaking down internal processes to calculate performance metrics. Quantify everything, because only quantifiable information can be accurately compared.
Key Benefits
In addition to helping companies become more efficient and profitable, benchmarking has other benefits, too, such as:
- Improving employee understanding of cost structures and internal processes
- Encouraging team-building and cooperation in the interests of becoming more competitive
- Enhancing familiarity with key performance metrics and opportunities for improvement company-wide
In essence, benchmarking helps employees understand how one small piece of a company’s processes or products can be the key to major success, just as one employee’s contributions can lead to a big win.
Requirment
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. Please suggest to him with options so that he will buy a good car for his family.
Note: Pughazhyendhii is fond of big cars
Suggestion:
I would suggest sedan model cars.
Suggestible cars:
1) Maruthi Suzuki Dzire Zxi Plus AGS
2) Honda Amaze 1.2 VX CVT
3)Tata Nexon XZ
4) Hyundai Venue
1) Maruthi Suzuki Dzire Zxi Plus AGS
| Model/Specification | Maruthi Suzuki Dzire Zxi Plus AGS/Sedan |
| Engine | 1197 cc, 4 Cylinders Inline, 4 Valves/Cylinder, DOH |
| Price | 9.13 Lakh |
| ARAI(Mileage)KMPL | 24.12 |
| Fuel type | Petrol |
| Engine type | 1.2L DualJet |
| Boot Space | 378 litres |
| Fuel Tank capacity | 37 lites |
| Seating Capcity | 5 seater |
| Transmission | Manual |
| Safety | 2 Star (Global NCAP) |
Pros:
- Proportionate compact sedan stance
- Feature laden
- Frugal motor
Cons
- Fit and finish is not segment-leading
- Not involving to drive
2) Honda Amaze 1.2 VX CVT
| Model/Specification | Honda Amaze 1.2 VX CVT |
| Engine | 1199 cc, 4 Cylinders Inline, 4 Valves/Cylinder, SOHC |
| Price | 9.14 Lakh |
| ARAI(Mileage)KMPL | 18.3 |
| Fuel type | Petrol |
| Engine type | i-VTEC |
| Boot Space | 420 litres |
| Fuel Tank capacity | 35 lites |
| Seating Capcity | 5 seater |
| Transmission | Automatic |
| Safety | 4 Star (Global NCAP) |
Pros
- Spacious cabin,big boot
- Fuel-efficient engines
- Ease to driving
Cons
- Fit and finish in lower areas of the cabin
- Rear headroom tight for tall occupants
3)Tata Nexon XZ
| Model/Specification | Tata Nexon XZ |
| Engine | 1199 cc, 3 Cylinders Inline, 2 Valves/Cylinder, SOHC |
| Price | 9.49 Lakh |
| ARAI(Mileage)KMPL | 17.4 |
| Fuel type | Petrol |
| Engine type | 1.2L Turbocharged Revotron |
| Boot Space | 350 litres |
| Fuel Tank capacity | 44 lites |
| Seating Capcity | 5 seater |
| Transmission | Manual |
| Safety | 5 Star (Global NCAP) |
Pros
- Upmarket looks,five-star G-NACP safety
- Spacious cabin compared to rivals
- Easy to drive and live with
Cons
- Interior quality
- Low-end grunt from motors
- Infotainment screen not as good as rivals
4) Hyundai Venue
| Model/Specification | Hyundai Venue |
| Engine | 998 cc, 3 Cylinders Inline, 4 Valves/Cylinder, DOHC |
| Price | 9.13 Lakh |
| ARAI(Mileage)KMPL | 17.8 |
| Fuel type | Petrol |
| Engine type | 1.0 l Kappa Turbo GDi |
| Boot Space | 350 litres |
| Fuel Tank capacity | 45 litres |
| Seating Capcity | 5 seater |
| Transmission | Manual |
| Safety | 2 Star (Global NCAP) |
Pros
- Features list
- Quality interiors
- Lots powertrain options
Cons
- Cabin space i'snt generous
- Top-space variants are costly
- Engine options should be available across all trims
| Model/Specification | Maruthi Suzuki Dzire Zxi Plus AGS/Sedan | Honda Amaze 1.2 VX CVT /Sedan | Tata Nexon XZ/SUV | Hyundai Venue/SUV |
| Engine | 1197 cc, 4 Cylinders Inline, 4 Valves/Cylinder, DOH | 1199 cc, 4 Cylinders Inline, 4 Valves/Cylinder, SOHC | 1199 cc, 3 Cylinders Inline, 2 Valves/Cylinder, SOHC | 998 cc, 3 Cylinders Inline, 4 Valves/Cylinder, DOHC |
| Price | 9.13 lakh | 9.14 lakh | 9.49 lakh | 9.13 lakh |
| ARAI(Mileage)KMPL | 24.12 | 18.3 | 17.4 | 17.8 |
| Fuel type | Petrol | Petrol | Petrol | Petrol |
| Engine type | 1.2L DualJet | i-VTEC | 1.2L Turbocharged Revotron | 1.0 l Kappa Turbo GDi |
| Boot Space | 378 litres | 420 litres | 350 litres | 350 litres |
| Fuel Tank capacity | 37 litres | 35 litres | 44 litres | 45 litres |
| Seating Capcity | 5 seater | 5 seater | 5 seater | 5 seater |
| Transmission | Manual | Automatic | Manual | Manual |
| Safety | 2 Star (Global NCAP) | 4 Star (Global NCAP) | 5 Star (Global NCAP) | 2 Star (Global NCAP) |
Conclusion:
I would sugget Mr D.S. Pughazhyendhii with 4 cars,if he is in search of a 5 seater big car. He can go with Sedan/SUV model car because it has more boot space for long distance travel to his native place. When travelling, while consdering safety concern it is best to go with TATA NEXON XV (SUV Model), it has 5 star rating. It has good spacious cabin and good for long distance travel.
If Mr D.S. Pughazhyendhii is searching for a good mileage car he can go with Maruthi Suzuki Dzire Zxi Plus AGS (Sedan) because it gives mileage higher when compared to all models.
I would suggest Tata Nexon XV (SUV Model) because safety is more important while travelling long distance.