The process of improving performance by continuously identifying, understanding, and adapting outstanding practices and processes found inside and outside the organization. Benchmarking (seeks) to improve any given business process by exploiting “best practices” rather than merely measuring the best performance. Best practices are the cause of best performance. Studying best practices provides the greatest opportunity for gaining a strategic, operational, and financial advantage. Benchmarking is an approach for departments to measure and compare themselves with higher- performing departments with the goal of identifying work processes, products, services, or strategies that will lead to improvement.
Defense Industry Terminology
