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

---

Definitions:

Seasonal

Pertaining to or occurring during a particular season of the year, often implying changes in business activities, market demand, or weather patterns that recur annually.

Working Capital Management

The practice of managing a company's short-term assets and liabilities to ensure it has sufficient liquidity to run its operations efficiently.

Cost/Benefit Tradeoffs

The analysis or decision-making process regarding the advantages and disadvantages (costs and benefits) of a given action or investment.

Current Asset Account

A balance sheet account that represents the value of all assets that can reasonably be expected to be converted into cash within one year.