The process of comparing own products or services with that of leading renowed firms to improve performance and quality is called
Answers
These are the fundamentals of retail inventory strategy, and if you begin with a clear ... It is also known as product assortment width, merchandise breadth,
Answer:
Bench marking is comparing own products or services with leading products of the other best company to improve quality.
Explanation:
Comparison of own products or services with the other best companies is bench-marking. There are four types namely,
Internal bench marking: Business process comparison.
Competitive bench marking: Comparing the products with the rivals (competitors).
Functional bench marking: Comparing with the identical or similar product with same function outside the industry.
Generic bench marking: Pure form of bench marking, that includes comparing unrelated business functions or process to be practiced in similar ways irrespective of industry.