O'Reilly logo

Supply Market Intelligence for Procurement Professionals by Kelly Barner, Jeanette Jones

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

image

BEST PRACTICES AND OPERATIONS BENCHMARKING

As Nicholas Bloom, Raffaella Sadun, and John Van Reenen (2012) stated, “At least since Frederick Winslow Taylor published The Principles of Scientific Management in 1911, businesses have been trying to follow formalized sets of best practices.”1 The Institute for Supply Management defines best practice as “a leading-edge activity, operation, or process that is innovative and successfully implemented and thus provides a more efficient and effective means of conducting business, helping an organization to reduce its costs and improve quality and customer service.”2

Benchmarking, on the other hand, can be ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required