When benchmarking what other factors, apart from price should be considered to find the total cost of acquisition?

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When benchmarking what other factors, apart from price should be considered to find the total cost of acquisition?

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Answer: When evaluating potential suppliers, procurement professionals can carry out bench-marking. Benchmarking is the process of comparing a function, a process performance with another which is best in-class.

Other factors, apart from price that can be considered to find the total cost of acquisi-tion include the product or service quality, lead time, supplier culture, its environmental awareness and sustainability.