When benchmarking what other factors, apart from price should be considered to find the total cost of acquisition?
Posted: Tue Nov 29, 2022 5:26 am
When evaluating potential suppliers, procurement professionals can carry out bench-marking. Benchmarking is the process of comparing a function, a process performance with another which is best in-class.
Other factors, apart from price that can be considered to find the total cost of acquisi-tion include the product or service quality, lead time, supplier culture, its environmental awareness and sustainability.
Other factors, apart from price that can be considered to find the total cost of acquisi-tion include the product or service quality, lead time, supplier culture, its environmental awareness and sustainability.