Benchmarking

BENCHMARKING

Benchmarking is a process of measuring the performance of a company's products, services, or process against those of another business considered to be the best in the industry.

The point of bench marking is to identify internal opportunities for improvement. 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 of consumer tests and reviews. A specific, distinctive vehicle attribute branding is essential to make cars unique and competitive. As a first step on the way, vehicle manufacturers have to benchmark their vehicles in the competitive environment in order to understand and to strengthen or improve the potential of their vehicles.

STEPS FOLLOWED ON BENCHMARKING-

• Choose a product,service,or internal department to benchmark.
• Determine which best in class companies you should benchmark against the organizations to compare your business to.
• Gather information on their internal perfomance, or metrics.
• compare the data from both organizatios to identify the gaps in your company's perfomance.
• Adopt the processes and policies in place within the best-in-class performers.

BENEFITS OF BENCHMARKING-

• Improving employee understanding of cost structures and internal process
• Encouraging team-building and cooperation in the interests of becoming more competitive
• Enhancing familiarity with key perfomance metrics and opportunities for improvement company-wide

REQUIREMENT-

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

In my opinion I would suggest a car that is SUV so that 5 member can travell, with good mileage and safety.

SUGGESTIBLE CARS-

• TATA PUNCH
• TATA NEXON
• NISSAN MAGNITE
• HYUNDAI VENUE

TATA PUNCH

Pros:

• Best in class safety package(5-star Global NCAP safety rating)
• Have a good mix of a hatchback 
• Good cabin quality

Cons:

• No diesel engine option
• 1.2L NA petrol’s highway performance is weak
• Suspension has a firm tune (R16 variants)

SPECIFICATION OF TATA PUNCH-

TATA NEXON

Pros:

• Safe car with solid build quality
• Easy-to-drive with good handling
• Powerful engines

Cons:

• Uninspiring bottom-end engine performance
• Mediocre fuel efficiency
• Slightly hard ride

SPECIFICATION OF TATA NEXON-

NISSAN MAGNITE

Pros:

• Comfortable ride quality
• Turbo petrol engine offers good driveability and punch
• Smartly designed sub-compact SUV

Cons:

• No diesel engine option
• Firm MT gearshift & a clutch pedal that has more weight
• Missing features such as an auto dimming IRVM, full-size spare tyre etc

SPECIFICATION OF NISSAN MAGNITE-

HYUNDAI VENUE

Pros:

• Three different engine option
• good safety 
• featuture rich

Cons:

• No Top-Spec Petrol Automatic
• 1.2 petrol is weak on punch
• cabin space at rear not great

SPECIFICATION OF HYUNDAI VENUE-