Benchmarking Tool Analysis

The definition of benchmarking is the process of making comparisons in order to learn from Best Practices. When an organization compares its performance with other similar organizations they can identify those companies that have a comparatively high performance rating. From this an organization can learn how to achieve such a high level of performance.

Benchmarking started in the corporate sector when Xerox Corporation realized it was losing a lot of money and its market share to Japanese competitors. These competitors were able to sell a product for the same price that it cost Xerox to make. Benchmarking was started by Xerox's Manufacturing unit when it compared its photocopier manufacturing process to Fuji-Xerox. This is a very famous study that became part of the first book on Benchmarking by Camp. The book was not published until 1989, but meanwhile, benchmarking was becoming indoctrinated into the Xerox system of operations. Even so,......

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Title: Benchmarking Tool Analysis
Approximate Word Count: 1060
Approximate Pages: 5 (250 words per double-spaced page)

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