Supplier power is one of Porter's five forces and it measures the suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services).
Answer the following statement true (T) or false (F)
True
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Most products are established at one of four performance levels: low, average, high, or superior. For example, mountain bikes come in a variety of sizes and physical attributes
When a consumer purchases a mountain bike costing $1,000, he or she expects the bike to perform to specifications and to have a high ________, meeting the promised specifications. A) features B) conformance quality C) durability D) performance quality E) reliability
The standard unit cost is developed before the standard costs for direct materials, direct labor, and overhead can be set
Indicate whether the statement is true or false
The overarching solution to the bullwhip effect is simply for supply chain members to share information and work together
Indicate whether the statement is true or false
Which of the following is not a major influence on pricing decisions?
A. Political, legal, and image-related issues. B. Costs. C. Competitors. D. Planning and control policies of the firm. E. Customer demand.