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Supply Management and Procurement by Robert Turner

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5 The Importance of Benchmarks in Supply Management

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The Importance of Benchmarks in Supply Management

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Benchmarks are important in analyzing and managing various facets of business activities such as procurement, marketing, operations, and manufacturing. They are particularly important in supply management and procurement. Benchmarks can be set or established for a variety of things, including systems, commodity prices, products, or activities and processes. A benchmark is a goal that an organization wants to attain in a particular ...

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