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CIPS Exam L4M8 Topic 2 Question 58 Discussion

Actual exam question for CIPS's L4M8 exam
Question #: 58
Topic #: 2
[All L4M8 Questions]

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

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Suggested Answer: A

by Dorothy at May 02, 2025, 11:44 AM

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Alyce
2 months ago
Benchmarking? Sounds like a fancy way of saying 'do your homework.' But hey, if it helps me get the best deal, I'm all for it.
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Simona
2 months ago
Knowing what your competitors are doing can give you an edge in the market.
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Jenifer
2 months ago
Tada from Toyota used benchmarking to make the Supra better for track racing.
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Gretchen
2 months ago
Yeah, benchmarking helps us see how we stack up against the competition.
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Noel
2 months ago
It's more than just price, quality and lead time are important too.
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Malcom
3 months ago
Benchmarking sounds like a lot of work, but I guess it's better than just going with the cheapest option and regretting it later.
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Raul
3 months ago
Lead time is a big one. If the supplier can't deliver when I need it, the low price doesn't matter much.
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Latia
2 months ago
User 3
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Nan
2 months ago
User 2
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Erasmo
2 months ago
User 1
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Carey
3 months ago
Supplier culture and environmental awareness? Now we're talking! Those are the kinds of details that can really set a company apart.
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Tomas
3 months ago
It's great to see companies like Toyota using benchmarking to improve their products and stay ahead of the competition.
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Alonzo
3 months ago
Absolutely, companies that prioritize these factors can create a competitive advantage and attract environmentally conscious customers.
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Alpha
3 months ago
Yes, supplier culture and environmental awareness are becoming increasingly important factors in procurement decisions.
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Karina
3 months ago
I agree, benchmarking helps companies stay competitive by knowing their competitors' activities.
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Eveline
3 months ago
Yes, supplier culture and environmental awareness are also important factors to consider.
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Laurel
4 months ago
Apart from price, we should consider product quality and lead time.
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Krissy
4 months ago
Benchmarking is crucial for understanding the market and making informed decisions. Considering factors beyond just price is a smart move.
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Pok
3 months ago
Tada's use of benchmarking in designing the Toyota Supra shows how valuable it can be in product development.
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Elfrieda
3 months ago
Quality, lead time, and supplier culture are important factors to consider in addition to price.
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Luisa
4 months ago
Yes, benchmarking helps us stay competitive by understanding what others are doing.
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