Glossary
Terms & Glossaries of Shipping and Trading
Benchmarking
Benchmarking is the process of comparing a firm's performance against the practices of other leading companies - in or outside of an industry - for the purpose of improving performance.
Benchmarking is the process of comparing a firm's performance against the practices of other leading companies - in or outside of an industry - for the purpose of improving performance. Companies also benchmark internally by tracking and comparing past performance. Dimensions typically measured are quality, time and cost.
