Benchmarking

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 for consumer tests and reviews. Often benchmarking is focused on the manufacturing process itself to improve quality. Decrease manufacturing times. Reduce Scrap and rework

There are four main types of benchmarking: internal, external, performance, and practice.

1. Performance benchmarking involves gathering and comparing quantitative data (i.e., measures or key performance indicators). Performance benchmarking is usually the first step organizations take to identify performance gaps.

What you need: Standard measures and/or KPIs and a means of extracting, collecting, and analyzing that data.

What you get: Data that informs decision-making. This form of benchmarking is usually the first step organizations take to identify performance gaps.

2. Practice benchmarking involves gathering and comparing qualitative information about how an activity is conducted through people, processes, and technology.

What you need: A standard approach to gathering and comparing qualitative information such as process mapping.

What you get: Insight into where and how performance gaps occur and best practices that the organization can apply to other areas.

3. Internal benchmarking compares metrics (performance benchmarking) and/or practices (practice benchmarking) from different units, product lines, departments, programs, geographies, etc., within the organization.

What you need: At least two areas within the organization that has shared metrics and/or practices.

What you get: Internal benchmarking is a good starting point to understand the current standard of business performance. Sustained internal benchmarking applies mainly to large organizations where certain areas of the business are more efficient than others.

4. External benchmarking compares one organization's metrics and/or practices to one or many others.

What you need: You need one or more organizations to agree to participate in custom benchmarking. You may also need a third party to facilitate data collection. This approach can be highly valuable but often requires significant time and effort. That’s why organizations engage with groups like APQC, which offers more than 3,300 measures you can use to compare performance to organizations worldwide and in nearly every industry.

What you get: An objective understanding of your organization’s current state, which allows you to set baselines and goals for improvement.

Honda City 4th Generation

Rs. 9.29 - 9.99 Lakh

4.3/5

It has A good mileage of 17.4Kmpl with an overall rating of about 4.3 out of 5

It has an i-VTEC engine which helps for improving the fuel consumption of the vehicle.

It is so much spacious, will be good for a long journey.

Tata Nexon

Rs. 8.99 - 11.98 Lakh

Hyundai Venue

Rs. 9.29 - 9.99 Lakh

Hyundai Venue is currently available in Petrol and Diesel engines.

Mileage is almost similar to honda city and varies with the type of fuel consumption.

Performance 4.5/5

Safety 4.5/5

common features

Volkswagen Polo

Rs. 6.45 - 10.25 Lakh

The mileage is good.

Performance 4.6/5

Safety 4.8/5

Maruti Suzuki Ciaz

Rs. 8.99 - 11.98 Lakh

The mileage is good in this prize.

Transmission is automatic

Performance 4.3/5

Safety 4/5

CONCLUSION:

For daily commute car with automatic transmission will be helpful in metropolitan cities for a smoother travel experience. And for family usage, it should have enough space for the luggage. And for long journeys safety comes first while driving a personal vehicle. So, the car should have a good safety rating. So I suggest TATA NEXON over HONDA CIAZ because of its good mileage and as well as cost. Also, it has good safety as well as performance ratings.