Answered: DEFINE Benchmarking quality

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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DEFINE Benchmarking quality

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Bench-marking is a management approach for implementing best practices at the best price. Bench-marking is process of continuous quality improvement and comparing policy. Bench-marking methods spread throughout in the industrial sector in 1980 .First used as a method for comparing production costs with though of the competitors in the same sectors, Bench-marking later became more conceptualized and used as a method for continuous quality improvement in any sector.

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