A products or services price is a function of its total production or performance costs. In turn, the total production or performance cost reflects the aggregate costs incurred throughout the supply chain.

Higher education is one industry that has been characterized by rapidly rising costs and prices. Study your colleges or universitys supply chain and prepare a table identifying specific ways in which improved communications with suppliers and customers could result in specific cost savings for the educational institution, its suppliers, or its customers (students). Organize your table in three columns as follows:

Specific Information to Information Specific Cost to Be Be Obtained Source Reduced