Deal of The Day! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

CIPS L4M8 Exam - Topic 12 Question 65 Discussion

When benchmarking what other factors, apart from price should be considered to find the total cost of acquisition?
A) Explanation: 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.

CIPS L4M8 Exam - Topic 12 Question 65 Discussion

Actual exam question for CIPS's L4M8 exam
Question #: 65
Topic #: 12
[All L4M8 Questions]

When benchmarking what other factors, apart from price should be considered to find the total cost of acquisition?

Show Suggested Answer Hide Answer
Suggested Answer: A

by Erin at Oct 27, 2025, 01:41 PM

Limited Time Offer

25%

Off

Get Premium L4M8 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

0/2000 characters
Submit Cancel
Quiana
5 months ago
Sustainability is a must! We need to think long-term.
upvoted 0 times
...
Deeanna
5 months ago
Supplier culture impacts reliability. Trust is key.
upvoted 0 times
...
Han
5 months ago
Lead time is crucial too. Delays cost money.
upvoted 0 times
...
Amie
5 months ago
Price is still the main factor for me, though.
upvoted 0 times
...
Mi
5 months ago
Supplier culture? Never thought about that!
upvoted 0 times
...
Deeann
6 months ago
Wait, are we really comparing a Toyota to a Porsche?
upvoted 0 times
...
Jules
6 months ago
Totally agree, sustainability matters too!
upvoted 0 times
...
Doug
6 months ago
Quality and lead time are super important!
upvoted 0 times
...
Milly
6 months ago
Haha, I bet Tada has a spreadsheet a mile long comparing all the sports cars out there. Gotta be thorough!
upvoted 0 times
...
Jutta
6 months ago
Benchmarking the Supra against the Cayman? That's some serious competition they're up against!
upvoted 0 times
...
Emerson
6 months ago
I definitely remember benchmarking being important, especially in terms of understanding competitor offerings. It seems like a crucial part of the decision-making process.
upvoted 0 times
...
Mable
7 months ago
This is a great question! Benchmarking is crucial for understanding the market and staying competitive.
upvoted 0 times
...
Ranee
7 months ago
Quality matters a lot! Can't ignore it.
upvoted 0 times
...
Willow
7 months ago
I feel a bit confused about how to balance all these factors against price. I know they matter, but how do you prioritize them?
upvoted 0 times
...
Lashonda
7 months ago
Absolutely, price is just one factor. Quality, lead time, and sustainability are all important considerations.
upvoted 0 times
...
Dick
8 months ago
I think we practiced a similar question about evaluating suppliers, and I recall that sustainability was mentioned as a key factor too.
upvoted 0 times
...
Twana
8 months ago
I remember we discussed how quality and lead time can really impact the total cost of acquisition, but I'm not sure how to quantify those factors.
upvoted 0 times
...
Kayleigh
8 months ago
This is a great question! Benchmarking is such a crucial part of the procurement process. Beyond just price, I'd focus on evaluating factors like the supplier's reputation, their ability to meet deadlines, and any hidden costs or fees. And of course, comparing their offering to the competition to make sure you're getting the best value. Nailing this type of analysis is key to making smart purchasing decisions.
upvoted 0 times
...
Chandra
8 months ago
Okay, for this type of question, I'd start by making a list of all the relevant factors to consider beyond just the price. Things like product quality, delivery times, the supplier's environmental impact, and how they compare to the competition. Then I'd try to explain why each of those factors is important in determining the total cost. Gotta show I have a good grasp of the key considerations.
upvoted 0 times
...
Anglea
8 months ago
Hmm, I'm a bit unsure about how to approach this. What exactly do they mean by "total cost of acquisition"? Is that just the upfront purchase price or are there other hidden costs to consider? I'll need to think through that a bit more.
upvoted 0 times
...
Linwood
9 months ago
This seems like a pretty straightforward question. I'd focus on the key factors beyond just price, like quality, lead time, and the supplier's sustainability practices. Benchmarking against competitors is also important to understand how your offering stacks up.
upvoted 0 times
Kindra
4 months ago
Agreed! It’s all about the overall value, not just the price.
upvoted 0 times
...
Felix
4 months ago
Benchmarking helps see where you stand against others.
upvoted 0 times
...
Louvenia
4 months ago
Lead time can make or break a deal.
upvoted 0 times
...
Glory
5 months ago
Absolutely! Sustainability practices matter a lot now.
upvoted 0 times
...
Selma
7 months ago
Quality is definitely a big one. Can't compromise there.
upvoted 0 times
...
...

Save Cancel