Asked by Peter Shibia on Jun 20, 2024
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Cost management for services:
A) is confined to internal demand analysis and consumption management.
B) is confined to supplier cost structure analysis.
C) includes demand management and supplier cost structure analysis.
D) focuses primarily on better design of the service.
E) is only possible when the service is highly tangible.
Cost Management
The process of planning and controlling the budget of a business or project, focusing on reducing expenses to improve profitability.
Internal Demand Analysis
The process of assessing the demand for a company's products or services within the company itself, often for budgeting or planning purposes.
Supplier Cost Structure
Refers to the detailed composition of costs that a supplier incurs, including direct, indirect, fixed, and variable costs, to provide goods or services.
- Understand the significance and applications of cost management tools, including activity-based costing, the learning curve, and total cost of ownership.
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Learning Objectives
- Understand the significance and applications of cost management tools, including activity-based costing, the learning curve, and total cost of ownership.
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