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Supply Chain Glossary - B

Supply Chain Glossary - B

best-in-class

An organization, often from another industry, recognized for excellence in a specific process area. See: process benchmarking.

In benchmarking, the measurement or performance standard by which similar items are evaluated. Defining a best practice identifies opportunities to improve effectiveness. The process of comparing an actual result to a best practice may be applied to resources, activities, or cost objects.


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