BPI Test 2 Benchmarking Questions and Answers
2 key types of benchmarking - ANSWER-Quantitative
Qualitative
7 steps of benchmarking - ANSWER-1. Set benchmarking priorities
2. Identify the key processes
3. Collect data operational and managerial
4. Identify examplar
5. Identify gaps
6. Identify roadmap
7. Close gaps and improve process
A study by APQC found that companies that were most successful in benchmarking
provided LOWER level management engagement and had a WEAK financial focus
True/False - ANSWER-False
All initiatives will be equally funded
True/False - ANSWER-False
Bechmarking - ANSWER-The study of a competitor's product or business practices in
order to improve performance of one's own company
The process of improving performance by continuously identifying, understanding, and
adapting outstanding practices and processes found inside and outside the organization
Benchmarking involves a clear plan to close the gap with measurable improvements
True/False - ANSWER-True
Benchmarking involves an identified examplar of that future performance
True/False - ANSWER-True
Benchmarking involves knowing where you want your performance to be
True/False - ANSWER-True
Benchmarking involves knowing your own performance and circumstances
True/False - ANSWER-True
Benchmarking involves understanding the gaps between NOW and FUTURE
True/False - ANSWER-True
Benchmarking is more easily driven in an environment that has a tradition of continuous
improvement
True/False - ANSWER-True
, Benchmarking is only limited to competitors
True/False - ANSWER-False
Benchmarking is simply copying another successful process exactly
True/False - ANSWER-False
Benchmarking is understanding the conditions that allow for success of process and
attempting to replicate the success within existing conditions
True/False - ANSWER-True
Benchmarking pioneer - ANSWER-Think Xerox example of how they benchmarked LL
Beans order management process
Benchmarking seeks to improve any given business process by exploiting best
practices rather than merely measuring the best performance
True/False - ANSWER-True
Best in class is usually the top 10% of reported performance in quantitative studies
True/False - ANSWER-False
Best practices are the causes of WORST performance
True/False - ANSWER-False
Collecting accurate/comparable data is NOT the biggest challenge for companies trying
to benchmark (Step 3)
True/False - ANSWER-False
Consider narrowing down your list of what you would like to benchmark against when
selecting critical processes to benchmark (Step 2)
True/False - ANSWER-True
Considerations when choosing who you should benchmark are? - ANSWER-Inter-
industry
Intra-industry
Benchmark pioneer
CSCMP - ANSWER-
CSCMP has published minimum and best practice standard for each process
True/False - ANSWER-True
CSCMP stands for? - ANSWER-Council of Supply Chain management Professionals
Efforts of benchmarking can be tremendously improved with an effective changed
management plan
True/False - ANSWER-True
2 key types of benchmarking - ANSWER-Quantitative
Qualitative
7 steps of benchmarking - ANSWER-1. Set benchmarking priorities
2. Identify the key processes
3. Collect data operational and managerial
4. Identify examplar
5. Identify gaps
6. Identify roadmap
7. Close gaps and improve process
A study by APQC found that companies that were most successful in benchmarking
provided LOWER level management engagement and had a WEAK financial focus
True/False - ANSWER-False
All initiatives will be equally funded
True/False - ANSWER-False
Bechmarking - ANSWER-The study of a competitor's product or business practices in
order to improve performance of one's own company
The process of improving performance by continuously identifying, understanding, and
adapting outstanding practices and processes found inside and outside the organization
Benchmarking involves a clear plan to close the gap with measurable improvements
True/False - ANSWER-True
Benchmarking involves an identified examplar of that future performance
True/False - ANSWER-True
Benchmarking involves knowing where you want your performance to be
True/False - ANSWER-True
Benchmarking involves knowing your own performance and circumstances
True/False - ANSWER-True
Benchmarking involves understanding the gaps between NOW and FUTURE
True/False - ANSWER-True
Benchmarking is more easily driven in an environment that has a tradition of continuous
improvement
True/False - ANSWER-True
, Benchmarking is only limited to competitors
True/False - ANSWER-False
Benchmarking is simply copying another successful process exactly
True/False - ANSWER-False
Benchmarking is understanding the conditions that allow for success of process and
attempting to replicate the success within existing conditions
True/False - ANSWER-True
Benchmarking pioneer - ANSWER-Think Xerox example of how they benchmarked LL
Beans order management process
Benchmarking seeks to improve any given business process by exploiting best
practices rather than merely measuring the best performance
True/False - ANSWER-True
Best in class is usually the top 10% of reported performance in quantitative studies
True/False - ANSWER-False
Best practices are the causes of WORST performance
True/False - ANSWER-False
Collecting accurate/comparable data is NOT the biggest challenge for companies trying
to benchmark (Step 3)
True/False - ANSWER-False
Consider narrowing down your list of what you would like to benchmark against when
selecting critical processes to benchmark (Step 2)
True/False - ANSWER-True
Considerations when choosing who you should benchmark are? - ANSWER-Inter-
industry
Intra-industry
Benchmark pioneer
CSCMP - ANSWER-
CSCMP has published minimum and best practice standard for each process
True/False - ANSWER-True
CSCMP stands for? - ANSWER-Council of Supply Chain management Professionals
Efforts of benchmarking can be tremendously improved with an effective changed
management plan
True/False - ANSWER-True
