Which of the Following Is NOT a Typical Strategy for Firms

question 11

Multiple Choice

Which of the following is NOT a typical strategy for firms to obtain benchmarking data about other companies?

• A) Discussing sourcing strategies with colleagues at business association meetings
• B) Hiring former employees from other companies and assessing their knowledge
• C) Utilizing resources from the Center for Advanced Purchasing Studies
• D) Collecting published trade information on benchmarking studies

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Definitions:

Finished Goods

Manufactured items that are completed and ready for sale but have not yet been sold to customers.

Raw Materials

Primary components or substances used in the production of goods.

Direct Materials

Raw materials that are directly traceable to the manufacturing of a product and are a significant component of finished goods.

Work in Process Inventory

Work in process inventory includes partially completed goods that are still in the production process at the end of a period.