Exam (elaborations)
BPI Test 2 Benchmarking Questions and Answers (Graded A)
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BPI Test 2 Benchmarking Questions and Answers
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BPI Test 2 Benchmarking Questions andAnswers
Bechmarking - Correct Answers -The study of a competitor's product or business
practices in order to improve performance of one's own company
The process of improving performance by continuously identifying, understanding, and
adapting outstanding practices and processes found inside and outside the organization
Benchmarking seeks to improve any given business process by exploiting best
practices rather than merely measuring the best performance
True/False - Correct Answers -True
Best practices are the causes of WORST performance
True/False - Correct Answers -False
Studying best practices provides the greatest opportunity for gaining a strategic,
operational, and financial advantage
True/False - Correct Answers -True
Benchmarking is simply copying another successful process exactly
True/False - Correct Answers -False
Benchmarking is understanding the conditions that allow for success of process and
attempting to replicate the success within existing conditions
True/False - Correct Answers -True
The use of benchmarking in a conscientious effort at change is a major requirement for
the Malcom Bald ridge award
True/False - Correct Answers -True
Benchmarking is only limited to competitors
True/False - Correct Answers -False
Benchmarking involves knowing your own performance and circumstances
True/False - Correct Answers -True
, Benchmarking involves knowing where you want your performance to be
True/False - Correct Answers -True
Benchmarking involves an identified examplar of that future performance
True/False - Correct Answers -True
Benchmarking involves understanding the gaps between NOW and FUTURE
True/False - Correct Answers -True
Benchmarking involves a clear plan to close the gap with measurable improvements
True/False - Correct Answers -True
Best in class is usually the top 10% of reported performance in quantitative studies
True/False - Correct Answers -False
The reason we benchmark is to increase profits
True/False - Correct Answers -True
2 key types of benchmarking - Correct Answers -Quantitative
Qualitative
Quantitative benchmarking - Correct Answers -Demonstrates results
Qualitative benchmarking - Correct Answers -Demonstrates best practice
Think Decathletes example
CSCMP has published minimum and best practice standard for each process
True/False - Correct Answers -True
CSCMP stands for? - Correct Answers -Council of Supply Chain management
Professionals
CSCMP - Correct Answers -
Practice generates results
True/False - Correct Answers -True
Improve practices to obtain best results
True/False - Correct Answers -True
With CSCMP standards you can rank selected processes against the standard and
identify the process changes required to achieve the target
True/False - Correct Answers -True
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