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I’ve read more than a couple of versions for the types of benchmarking, and now I’m confused over the difference between External Benchmarking, Best In Practice and Comparability Benchmarking.
External would usually mean comparing to similar businesses eg Ford comparing the cost of making a car to Volkswagen
Best in practice looks at a single process that another organisation is very good at. The organisations can be in very different businesses. Eg the inventory management in a supermarket compared to inventory management in a hospital pharmacy.
Not sure what’s meant by comparability benchmarking – all benchmarking implies comparing yourself to others.
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