ABSTRACT
Benchmarking is done on operational parameters as well as performance parameters with the best performer in the category as well as with the best in the class. This helps corporations to compare the performance and identify areas for further improvement. For doing benchmarking, companies need adequate preparation in terms of capturing all data for a meaningful exercise starting from identifying the best performer with whom company wants to benchmark and determining the scope of the benchmarking and deciding on KPIs for each identified areas for measurement and comparison and working out a plan of implementation and action. It is also important to collect validated data and analyse and interpret the data and after comparison identify the reasons thereof to plan for the future. SCOR model which is an integrated process, as proposed by Supply Chain Council is normally used for benchmarking SCM performance.
