Cips L4m2 Defining Business Need Study Guide Rated A+

business case approach {Ans: 1) state problem 2) solution 3) resources}Step 6. How do we go about it? {Ans: step to choose a sourcing strategy plan, roles and responsibilities need to be defined (milestones) RACI MATRIX}line of best fit {Ans: A line that is very close to most of the data points in a scatter plot}TCO (Total Cost of Ownership) {Ans: An economic measure of the full cost of owning a product TCO includes direct costs such as purchase price, plus indirect costs such as training, support, and maintenance.}Work process interventions {Ans: joint planning , collaborative process with the suppliers.}(WLC) implementation stage {Ans: model implementation to get the results and then make arrangement for regular recalculation to find further opportunities.}