What Is the Purpose of Benchmarking

question 44

Multiple Choice

What is the purpose of benchmarking?

• A)to save money
• B)to reduce the workforce
• C)to adopt best practices
• D)to expand internationally
• E)to diversify products

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Definitions:

Original Delivery Promise

The initial commitment made by a supplier regarding the delivery time of goods or services.

Speed Up Delivery

The process of increasing the speed at which goods are moved from the supplier to the customer in order to reduce lead times.

Delayed Order

A situation where a purchase request or delivery of goods is not fulfilled within the expected timeline.

Request for Proposal

A document issued by a company inviting suppliers or vendors to submit a proposal on a specific product or service requirement, detailing specifications and evaluation criteria.