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Benchmarking or Benchmark

The relationship of a design, process, service or any system alongside a competitors design, process, or service. Vital in comparing one company’s process, product, or service to others.

Benchmarking requires the establishment of a baseline. Is also used in many Six Sigma, TQM, (Total Quality Management), and similar programs, to measure process improvements.

Also see MTBF – Mean Time Between Failure, and MTTF – Mean Time To Failure.

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Last Updated: Saturday, 10-Jun-06 15:50:57 PDT