Benchmarking is the process of comparing business processes and performance metrics to industry bests or best practices, while a benchmark is a standard or point of reference against which things may be compared or assessed. Difference Between Benchmarking and Benchmark ...
Product benchmarking, also referred to as “best practice benchmarking” is an evaluation process of a manufacture that is measured against the process of its competitors or peers within a given industry. The goal is to create and implement improvement plans and best practices to increase performan...