It is a comparison between the existing processes within the company and best practices or benchmarks. Best practices can be industry specific or process specific. They are usually based on existing practices within successful companies. Companies who wish to benchmark can use tools to see how they compare with other companies in their sector or how a part of their operation compares with other similar-sized companies. These tools can include surveys, statistics, visits to other companies, reports, case studies etc.
Several sites offer more detailed information about benchmarking.
Superfactory , a manufacturing site has a best practice area, with articles, a good selection of links plus some free benchmarking assessment tools. The International Benchmarking Network has a selection of useful links, organised by sector and Best Practices LLC , an American Consultancy, offer news on benchmarking, hot topics and abstracts of their very expensive reports. Benchmarking in Practice These sites offer more practical information to those actively involved in benchmarking and several contain benchmarking tools. The Benchmarking Exchange is an international members only site which offers information, case studies, forums, surveys and a range of self assessment tools. Arthur Andersen's Global Best Practices is a monthly example of best practice taken from Arthur Andersen's Knowledgespace.