Strategic Cost Management Framework Quiz
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Questions and Answers

What is the opportunity cost of downtime per PC per year?

  • $450
  • $700 (correct)
  • $30/hour
  • $120/month

    • What is the total acquisition cost of hardware and software?

  • $700,000
  • $1,440,000
  • $1,200,000 (correct)
  • $450,000

    • What is the annual usage cost per PC for equipment support?

  • $40
  • $100
  • $150
  • $120 (correct)

    • What is the prerequisite for a successful target and cost-based pricing agreement?

    <p>All of the above</p> Signup and view all the answers

    When is collaborative cost management not appropriate?

    <p>For complex, customized items</p> Signup and view all the answers

    What is the purpose of target pricing in collaborative cost management?

    <p>To share cost savings</p> Signup and view all the answers

    What is the minimum return on investment that a supplier wants to achieve?

    <p>20%</p> Signup and view all the answers

    What is the total cost of producing 4,000 units?

    <p>$50 each</p> Signup and view all the answers

    What is the purpose of Reverse Price Analysis?

    <p>To estimate the cost of a product when the supplier is reluctant to share its proprietary cost data</p> Signup and view all the answers

    What is the benefit of using standardized components in product design?

    <p>Reduces product cost</p> Signup and view all the answers

    What is the purpose of Break-Even Analysis?

    <p>To analyze a supplier's cost structure and identify if a target purchase price provides a reasonable profit</p> Signup and view all the answers

    What can be achieved through a combination of plant utilization, process capability, learning curve effect, and supply management efficiency?

    <p>Cost reduction</p> Signup and view all the answers

    What is the primary focus of a supplier selection strategy for critical products?

    <p>Identifying opportunities for cost savings sharing and collaborative efforts</p> Signup and view all the answers

    What is the primary characteristic of a competitive market situation?

    <p>Many potential suppliers</p> Signup and view all the answers

    What is the primary goal of a supplier selection strategy for unique products?

    <p>Moving to the generics quadrant over time</p> Signup and view all the answers

    What is the primary approach to supplier selection for commodities?

    <p>Price analysis using market forces</p> Signup and view all the answers

    What is the primary characteristic of a generics market situation?

    <p>Many potential suppliers</p> Signup and view all the answers

    What is the primary benefit of using preferred suppliers for commodities?

    <p>Leveraging market forces</p> Signup and view all the answers

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