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Free L3M3 Exam Braindumps (page: 11)

Page 10 of 23
PDF with 90 Questions

When both buyer and seller share cost information with each other (in both directions), in order to collaborate in cost reduction activities.

  1. Open book costing
  2. Co-destiny
  3. Cost analysis
  4. Cost transparency

Answer(s): D

Explanation:

Cost transparency - this requires a high trust level, as both parties open up and share information on the costs of their operations.

Open book costing is a one-way share - the seller allows the buyer to look at their actual costs.



Imagine you discuss profit on an item for sale in your business as a percentage of the selling price. Assume the profit element represents 50% of the selling price. Is mark-up or margin being described here?

  1. Mark-up
  2. Margin

Answer(s): B

Explanation:

When profitability is spoken of as a % the selling price, the profit element is called the margin.



Qualitative research / data can accurately be described as XXX rather than 'counting'.
What is XXX?

  1. Prying
  2. Probing
  3. Enumerating
  4. Summarising

Answer(s): B

Explanation:

Probing.

Qualitative research enables a researcher to develop themes of interest, in more depth than simpler quantitative research.



The letters `ESE' stand for:

  1. Early supply estimate
  2. External storage environment
  3. External supplier expertise
  4. Early supplier engagement

Answer(s): D

Explanation:

Early supplier engagement - one of the assessment criteria for this course (3.1)






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