_____ refers to the process of comparing supplier prices against external price benchmarks, without direct knowledge of the supplier's costs.

Question

Quizplus · Accepted Answer

Price analysis involves comparing supplier prices against external price benchmarks without direct knowledge of the supplier's costs. Cost analysis involves an in-depth evaluation of a supplier's costs, while make-buy analysis assesses whether a company should make a product in-house or outsource it. Target costing and total cost analysis are both methods for managing costs, but they involve more comprehensive evaluations of supplier costs than price analysis.

_____ Refers to the Process of Comparing Supplier Prices Against