Matt Lothamer is the supply chain manager for a large plastics manufacturing company. He is responsible for procuring a wide variety of raw materials to be utilized in the manufacturing process of their plastic products. As part of an annual quality control and expense analysis, Matt is reviewing the prices charged by the raw materials suppliers and also seeking bids from competing suppliers to determine whether any savings could be realized. Matt is rewarded by the company with bonuses if he's able to reduce expenses and associated with the raw materials as this could lead to higher profit margins on the products they manufacture. Matt knows that saving a few cents can make a dramatic difference since they manufacture thousands of products at their state-of-the-art facility in Indiana. What type of analysis do you believe Matt Lothamer can perform utilizing the data related to the prices charged by their current and prospective raw materials suppliers?
A) cost analysis
B) sales analysis
C) advertising analysis
D) engagement analysis

Question

Quizplus · Accepted Answer

Matt Lothamer is reviewing the prices charged by their current and prospective raw materials suppliers as part of an annual quality control and expense analysis. His goal is to find any savings that can be realized in order to reduce expenses and increase profit margins. This type of analysis is referred to as cost analysis, which involves analyzing the costs of goods and services to identify areas where savings can be made.

Matt Lothamer Is the Supply Chain Manager for a Large