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What role does benchmarking play in Strategic Cost Management in supply chain management? Group of answer choices Comparing a company's performance against industry standards or

What role does benchmarking play in Strategic Cost Management in supply chain management? Group of answer choices Comparing a company's performance against industry standards or best practices to identify opportunities for cost reduction and improvement Ignoring cost-related data and focusing solely on supplier relationships Setting arbitrary cost reduction goals without analysis Comparing a company's performance against its own historical data

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