Benchmarking

1 :- WHAT IS BENCHMARKING

BENCHMARKING :- THE BENCHMARKING IS A TECHNICAL WORD OF COMPARISON IF IAM GOING TO MAKE A PRODUCT AND DEVELOP TO STUDY THE PART WHICH WE ARE GOING TO MAKE THAT THING TO MAKE LOT OF VOLUME TO SELL FIRST HE WILL STUDY LOT OF THINGS ABOUT THAT PRODUCT THEN GOING TO START THE ITEM AND THEN START SELLIMG THE PRODUCT BETTER TO GIVEN BY THE OWN COMPANY TO MAKE HIS COMPANY BETTER IN THE MARKET THIS IS CALLED BENCH MARKING

BENCH MARKING IS BASICALLY A COMPARISON OF WHAT IS ALREADY THEIR IN THE MARKET AND HOW DO I IMPLEMNTS THE MARKET TO SELL MY PRODUTS IN THE MARKET THIS IS CALL BENCHMARKING

1 :- STRUCTURED COMPARISOIN BETWEEN SIMILAR PRODUCT SERVICE OR PRODUCT ON SOME DIMENSIONS OF PERFOMENCE

2 :- BENCHMARKING IS A STRUCTRED COMPARISION BETWEEN SIMILAR PRODUCTS PROCESS AND SEVICES ASSOCIATED WITH THEM

3 :- HELP TO UNDERSTAND AND IDENTIFY CHANGEPOINTS BETWEEN SIMILAR PRODUCTS TO MARK AN INFORMATION CHOICE FOR THE SELECTION OF PROPERTIES OF THE PRODUCT

4 :- HELP TO UNDERSTAND THE IDEOLAGY BEHIND THE DESIGN OF THE PRODUCT

STEPS :-

1 :- CHOOSE A PRODUCT OR A SERVICE TO PERFORM BENCHMARK

2 :- COMPARE TYHE PRODUCT WITH THE BEST EXISTING ONE OF COMPETITORS COMPANIES

3 :- GATHER THE INFORMATION ON THE INTERNAL PERFORMANCE OF THE COMPETITORS PRODECT

4 :- COMPARE THE DATA FROM BOTH ORGINIZATIONS TO IDENTIFY GAPS IN YOUR COMPANY PERFORMANCE

5 :- ADOPT THE PROCESSES AND POLICIES IN PLACES IN PLACES WITHIN THE BEST IN CLASS PERFORMERS

PROCESS BENCHMARKING OCCURS AT SEVERAL LEVELS :-

1 :- BETWEEN SIMILAR PROCESS IN THE SAME FACTORY OR SERVICE BRANCH

2 :- BETWEEN DIFFERENT FACTORIES OR SERVICES BRANCHES

3 :- BETWEEN DIFFERENT SECTOR USINHG THE SAME PROCESS

TYPES OF BENCHMARKING :-

1 :-INTERNAL BENCHMARKING

2 :-EXTERNAL BENCHMARKING

3 :-PERFORMENCE BENCHMARKING

4 :-PRACTICE BENCHMARKING

5 :- ELEMENTS FOR EFFECTIVE BENCHMARKING

6 :-BENEFITS

(1) :- INTERNAL BENCHMARKING :-

WHEN THE COMPANY WANTS TO DISTINGUISH FROM ITS OWN ALREADY RUNNING PRODUCTS IN THE MARKET INTERNAL BENCHMARKING CAN BE DONE

(2) :- EXTERNAL BENCHMARKING :-

WHEN THE COMPANY WANTS TO DISTUNGUIS BETWEEN PRODUCTS OF OTHERS ORGANIZATION THAN ITS OWN COMPETITORS THEN EXTERNAL BENCHMARKING IS DONE

(3) :- PERFORMENCE BENCHMARKING :-

IT HELPES TO DISTINGUIES BASED ON NUMBERS QUANTITATIVE DATA DIFFERENT PARAMETERS ARE USED TO DIFFERENTIATE PERFOMENCE ON SEVERAL FACTORS

(4) :- PRACTICES BENCHMARKING :-

IT HELPS TO IDENTIFY THE DIFFERENT PRACTICES ABOUT AN ACTIVITY TO COMPARE QUALITATIVELY DIFFERENCES BETWEEN THEM

(5) :- ELEMENTS FOR EFFECTIVE BENCHMARKING :-

1 :- OVERAL IMPACT ON CUSTAMER SATISFACTION

2 :- THE EXTENT OF CONTRIBUTION TO RASING COMPETITVE STANDARDS

3 :- OPPORTUNITY TO CREATE THE LEARNING ORGANISATION

4 :- INSPRTION FROM BEST IN CLASS COMPANIES

5 :- ENCHANCING KNOWLEDGE POOL

6 :- BRINING IN STATE OF THE ART PRACTICES

7 :- KEEPING THE ORGANISATION EXTERNAL FOCUSED

8 :- KEEPING TNEORGANISATION EXTERNALLY FOCUSED

9 :- EXTERNDING EMPLOYEES CREATIVE CONTRIBUTIONS

(6) :- BENEFITS :- IN ADDITION TO HELPING COMPANIES MORE EFFICIENT AND PROFITABLE BENCHMARKING HAS OTHER BENEFITS TOO SUCH AS

1 :- IMPROVING EMPLOYE UNDERSTANDING OF COST STRUCTURE AND INTERNAL PROCESSES

2 :- ENCOURAGING TEAM BUILDING AND COOPERATION IN THE INTERESTING OF BECOME MORE COMPETITIVE

3 :- ENHANCING FAMILIARITY WITH KEY PERFOMING METRICS AND OPPORTUNITIES FOR IMPROVEMENT COMPANY WIDE

2 :- COMPARE AT LEAST 4 VECHICLES :- REVIEWING THE GIVEN DATA ABOUT MR. D.S. Pughazhyendhii THE FOLLOWING FACTORS SHOULD BE MAINLY CONSIDERED IN SELECTING THE CARS FOR BENCHMARKING

1 :- ALWAYS FIRST PRIORITY SHOULD BE GIVEN TO THE SAFETY

2 :- FEATURES AND AESTHETICS

3 :- 5 SEASTER VEHICLE FOR FAMILY PURPOSE

4 :- WELL SPACED AND ERGONOMIC VEHICLE REQUIRED FOR 4 ADULTS AND ONE KID

5 :- VEHICLE FOR CROWDED CITY AS WELL AS LONG DISTANCE TRAVEL PURPOSE

6 :- VEHICLE FOR DAILY COMMUTE GOOD MILLAGE REQUIRED

7 :- CUSTOMER FOND OF BIG CARS

8 :- CUSTOMER PRICE RANGE 08 - 10 LAKHS

2.1 TATA ALTROZ :-

COST -INR 10.00 LAKHS

2 . MAHINDRA THAR

COST - INR 10 LAKHS

3. TOYOTA URBAN CURISER

Key Specifications and Features

2021 Toyota Urban Cruiser Mid AT

4 :- TATA PUNCH

Key Specifications and Features

2022 Tata Punch Accomplished Dazzle

3 :- PROVIDE A PROPER CONCLUSION FOR THE REPORT SUGGESTING A SUTABLE VECHICLE AMONG THE COMPARISION MADE

CONCLUSION : RECOMMENDED TATA ALTROZE

I WOULD RECOMENDED TATA ALTROZE BEACUSE OF THE FOLLOWING REASONS

1 :- IT HAS ALL THE FEATURES AS PER THE CUSTAMER'S REQUIRED

2 :- MILEAGE IS BETTER THAN OTHER MODELS

3 :- SAFETY PROSPECTIVE ALSO ITS GIVING SO MANY EXTRA SAFETIES FEATURE COMPANY TO OTHER

4 :- COMPARING TO OTHERS IT'S LIGHT WEIGHT EFFICIENCY ALSO BETTER

5 :- CAR DESIGN & INTERIOR IT'S VERY NICE COMPARING TO OTHERS