We've got 76 shorthands for benchmarking »
Acronyms that contain the term benchmarking
What does benchmarking mean? This page is about the various possible meanings of the acronym, abbreviation, shorthand or slang term: benchmarking.
Term | Definition | Rating |
---|---|---|
ADBC | Aerospace & Defense Benchmarking Council | |
ICMBA | International Contract Management Benchmarking Association | |
EBI | Educational Benchmarking Inc | |
BASIS | Benchmarking Approach For Spatial Index Structures | |
CRMBA | Customer Relationship Management Benchmarking Association | |
CAB | Competitive Analysis Benchmarking | |
WUBA | Water Utility Benchmarking Association | |
MIBS | Mitial International Benchmarking Standard | |
SIMBA | Society for Inventory Management Benchmarking Analysis | |
GRBS | Global Research Benchmarking System | |
ICBP | International Cancer Benchmarking Partnership | |
BIJ | Benchmarking An International Journal | |
KMBA | Knowledge Management Benchmarking Association | |
PIBG | Pharmaceutical Industry Benchmarking Group | |
TAMBC | Talent Acquisition Management Benchmarking Consortium | |
ROBES | Retail Operations Benchmarking Excellence Survey | |
BUSCO | Benchmarking Universal Single Copy Orthologs | |
SKBS | Strategic knowledge benchmarking system | |
ANUBIS | Australian National University Benchmarking Indoor Skeletons | |
ANUBIS | Australian National University Benchmarking Indoor Skeletons | |
SABS | Station Activities Benchmarking Study | |
PMBS | Performance Modeling Benchmarking and Simulation | |
IBF | Intranet Benchmarking Forum | |
MPBS | Mercer Payroll Benchmarking Survey | |
CMBG | Configuration Management Benchmarking Group |
What does benchmarking mean?
- Benchmarking
- Benchmarking is the process of comparing one's business processes and performance metrics to industry bests or best practices from other industries. Dimensions typically measured are quality, time and cost. In the process of best practice benchmarking, management identifies the best firms in their industry, or in another industry where similar processes exist, and compares the results and processes of those studied to one's own results and processes. In this way, they learn how well the targets perform and, more importantly, the business processes that explain why these firms are successful. Benchmarking is used to measure performance using a specific indicator resulting in a metric of performance that is then compared to others. Also referred to as "best practice benchmarking" or "process benchmarking", this process is used in management and particularly strategic management, in which organizations evaluate various aspects of their processes in relation to best practice companies' processes, usually within a peer group defined for the purposes of comparison. This then allows organizations to develop plans on how to make improvements or adapt specific best practices, usually with the aim of increasing some aspect of performance. Benchmarking may be a one-off event, but is often treated as a continuous process in which organizations continually seek to improve their practices.
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"benchmarking." Abbreviations.com. STANDS4 LLC, 2024. Web. 1 May 2024. <https://www.abbreviations.com/benchmarking>.
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