In Supply Chain and especially in Purchasing, much is said about the material cost, product price and total value of the purchase requisition. But, do you know how to use each of these terms correctly? Heads up! They are not synonymous! In case you don't know the difference, we will help clarify!

Cost: It is the amount (monetary) necessary to "bring life" to your product or service. The cost can be classified as direct or indirect cost and we will clarify these differences as well.
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