Which term describes a system for collecting, measuring, and comparing a measure to a standard?

The term that best describes a system for collecting, measuring, and comparing a measure to a standard is "metric." Metrics are quantitative measurements used to assess performance against established benchmarks or standards. They provide a clear and numerical way to evaluate efficiency, effectiveness, or quality in various processes or outcomes.

In the context of master planning of resources, metrics might include inventory turnover rates, order fulfillment times, or production efficiencies. These measurements enable organizations to track their progress, identify areas for improvement, and make informed decisions based on data.

Other terms in the options can carry related meanings but do not encapsulate the complete definition as well. A benchmark refers to a standard or point of reference. An indicator is a broader term that may denote a sign of something's status but does not inherently imply a comparison with a standard. A framework typically refers to a structure or system of concepts and does not specifically pertain to the act of measurement against a standard. Therefore, "metric" is the most accurate choice in this context.