The role of benchmarking in the performance of the import process

Any firm participating in external (or inter‐firm) benchmarking anticipates at least two benefits: useful statistics on how it performs relative to the other participating firms; and guidance in identifying promising performance improvement actions. Using data from a five‐year benchmarking program for firms engaged in import operations, this research illustrates how these benefits might be assured. A major recommendation of the research is that, along with formal analysis of quantitative data, the structure of ongoing inter‐firm benchmarking programs must facilitate the firms’ receipt of information that enhances the realization of these benefits. This is likely to improve such programs along the dimensions of data gathering efficiency, data quality, and hence the usefulness of benchmarking to participating firms.