Benchmarking Is

question 39

Multiple Choice

Benchmarking is:

• A)A system of performance metrics that seeks to motivate suppliers to perform better.
• B)A practice where companies attempt to learn and apply the best practices of other companies.
• C)A system of marking defective inbound inventory so it can quickly be identified for return to the supplier.
• D)A program where suppliers compete for contracts,but those companies who are outbid are provided advice for winning future contracts

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Definitions:

Defer Judgment

The practice of postponing evaluation or critical thinking about ideas or situations in order to explore all possibilities without bias.

Osborn

Refers to Alex Osborn, the advertising executive and author who coined the term "brainstorming" and developed techniques to foster creative thinking.

Lateral Thinking

A problem-solving method that encourages creativity and looking at situations from different perspectives.

Perceiving and Interpreting

The cognitive processes through which individuals notice and make sense of environmental stimuli, events, or situations.