Benchmarking
BENCHMARKING
Benchmarking is defined as the process of measuring products, services, and processes against those of organizations known to be leaders in one or more aspects of their operations. Benchmarking provides necessary insights to help you understand how your organization compares with similar organizations, even if they are in a different business or have a different group of customers.
It is particularly useful when comparing not only performance but also practice –in other words what do the different organizations do to enable thatperformance 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
This massive difference in performance provided a powerful incentive for the lower-performing firms to explore how the best plants were able to deliver these different productivity levels. Various studies began to focus on trying to understand the process innovations involved and gradually it became clear that the differences were not down to levels of automation or other physical investments but rather in the underlying organization and management of production. The successful plants had an integrated philosophy backed up by an extensive toolkit of approaches which focused on eliminating or reducing waste in all areas and activities.
They achieved this through a mixture of team working and employee involvement in innovation. This focus on waste and its reduction led the researchers to think of the successful systems as being ‘lean’ – rather like an athlete who carries not extra weight or fat and is therefore able to perform better. The term stuck and became a label for an approach which has had enormous impact on process innovation
around the world.
Here in case of our problem statement Mr. D.S.Pughazhyendii has to go through he has to go through all the avalaible models and decide on which one suits him the most based on certain criterias such as prize, milleage, seating capacity considering all these points in mind he will have to choose the best possible option. In the case of Mr. Pughazhyendhii , he needs a car which can drive to his office were traffic and crowd is the major concern and
even needs a 5 seater as he drives to his hometown monthly with his family and by considering the budget in the range 8-10 lakhs.
He can go with Hatchback's or Sedan as they provide 5 seater facility and cargo space. New Hatchbackvehicles with more cargo space are available with more efficient.This is the process of Benchmarking in case of our problem statement.
In order to decide the car that will best suit him according to the given considerate point in the hatchback class we have choosen four availble variants currently available in the local market.
HYUNDAI I20
TATA TIGOR
HONDA AMAZE
MARUTI BALENO
