Question
Asked Oct 24, 2019
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Cost:
1-Low cost operations
Quality:
2-Top quality
3-Consistent quality
Time:
4-Delivery speed
5-On time delivery
6-Development speed
Flexibility:
7-Customization
8-Variety
9-Volume flexibility

How can benchmarking help a company improve on any or all of the listed, (9) priorities?

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Expert Answer

Step 1

Benchmarking:

Benchmarking is the technique that helps to measure the performance of the firm by comparing it with the best performance in the indu...

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