What would generally NOT be part of supplier cost information?

Prepare for the CIPS Defining Business Need (L4M2) Test with multiple choice questions and insightful explanations. Enhance your understanding and ensure success!

Supplier cost information typically encompasses various elements directly related to the pricing and costs associated with acquiring goods or services from a supplier. This information is crucial for organizations to understand how much they will pay for products and the associated expenses of doing business with a supplier.

Consumer preference data, while valuable for market research and understanding customer needs, does not directly pertain to the costs incurred by a supplier. It involves insights into what consumers desire or seek in products, which can influence product development and marketing strategies, but this data does not contribute to the cost structure of supplier goods or services.

On the other hand, a Request for Information (RFI) is often used to gather initial supplier cost structures and capabilities. Technical data can include specifications and costs related to the production or delivery of goods, providing insight into the supplier's pricing. Additionally, plant visits allow organizations to observe operations firsthand and assess factors that could influence costs, such as efficiency and scale of production. Therefore, these elements are integral to forming a clear picture of supplier costs, while consumer preference data stands apart as it does not play a direct role in determining supplier pricing.

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