Question

Question 5 Needs Grading Look for a benchmarking story in the Internet, provide the company name and mention what was the type of benchmarking i.e internal, external or best practice? Question 6 Needs Grading For the same company provide the main componentsfunctions where the becnmarking took place/implemented? Question 7 Needs Grading what are the benefits for that company because of bench marking? and when they were able to feel the difference? Question 8 Needs Grading Write down the steps that the company conducted during the benchmarking process? Question Needs Grading What are the benefits of maintenance survey? Question 10 Needs Grading Write down three of the maintenance surveys, and explain them briefly?

Answer 1

5) Every company aims at gaining superiority in the product quality and also aims at providing the product to the customers at the best possible price or at an affordable price. A company compares its products, processes and strategies with those of the other companies which are best in the industry. In this way, it discovers the best practice that can be adopted to achieve its aim with optimum resources. This is called benchmarking. Sometimes, it is also done within the organisation for arriving at the best way to do a particular work.

The company that adopted benchmarking was Xerox.

The type of benchmarking adopted by Xerox was International benchmarking. International benchmarking means comparing with companies outside the country.

6) The company's operating cost was quite high as compared to its Japanese competitors. Moreover, there were many defective parts in its products. The 'Leadership Through Quality' program launched by David T. Kearns focused on reducing the production cost and improving the quality.

7) The benefits for the company due to benchmarking were:

a) The number of satisfied customers increased because the products' quality improved due to reduction of defects and customers had less complaints.

b) The financial performance of the company also saw an improvement.

c) The cost of inventory reduced by two-third.

d) Marketing productivity increased by one-third.

e) Labor costs significantly decreased.

The difference was felt by the company when its sales improved within the country and it became the leader in the market segment.