The Main Benefit(s) from Benchmarking Sourcing Practices Is/are

question 33

Multiple Choice

The main benefit(s) from benchmarking sourcing practices is/are:

• A) Savings in energy consumption and materials, lower distribution costs, and improved corporate image among regulators, customers and community.
• B) Lower prices of goods and services, use of fewer buyers and lower administrative costs
• C) Larger market for products, economies of scale in purchasing and production, and lower labor costs.
• D) Allows firms to leapfrog the experience-gaining stage by trying things that have worked well for other companies.

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Definitions:

Public Radio

Radio stations that are funded by public sources, such as government grants and listener donations, rather than commercial advertising.

Free-rides

The situation where individuals consume a public good without contributing to its cost, benefiting from others' contributions.

Common Resource

A natural or man-made resource where one user's consumption reduces or diminishes the utility of that resource for others, and where it is difficult to exclude anyone from using the resource.

Rival

Refers to a competitor within the same market that offers similar products or services.