You recently overheard that your company's competitors have started to purchase their materials from an online marketplace. You identify your company's top three products and collect information about their material usage, their standard costs, and the average costs you find from the sellers on the online marketplace at the end of December 2020. Here are the definitions of the fields. Online Marketplace Material usage data set. . Online Marketplace Price data set. Material ID: a unique identifier for each raw material. Product ID: a unique identifier for each product. Standard usage: the standard usage of materials for a specific product Standard price: the standard purchasing price for one unit of each raw material. Material ID: a unique identifier for each material. Grade_main: the grade level of the material. (Note: The company only keeps materials with grade level "A.") Quantity on hand: the number of units of the raw material on hand in inventory. Marketplace vendor: vendor for raw materials on the online marketplace. Avgtransactionprice: average transaction price per unit for a specific vendor and a specific raw material. Use the Online Marketplace data sets available in Wiley Course Resources to answer the following questions about the online marketplace: Click here to view Online Marketplace Material usage dataset Click here to view Online Marketplace Price dataset (d) Total marketplace price for all materials is $8,547,123.45. The total standard price of inventory is $8,395,156.26. Based on your observations in (a) and (b), can you explain why the competitors are switching to the online marketplace? What would you recommend to your company? BIU T T' I #313 E3 99 TT- O Word(s)

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