Question 1 of 30
A manufacturing company is evaluating its procurement strategy to optimize costs while ensuring quality and timely delivery of raw materials. The company has two suppliers: Supplier X offers a lower price per unit but has a longer lead time, while Supplier Y has a higher price but guarantees faster delivery. The company needs 10,000 units of a specific raw material, and the cost per unit from Supplier X is $5, while from Supplier Y it is $7. If the company values timely delivery at a cost of $1,000 per week and Supplier Y can deliver the materials in 1 week, while Supplier X would take 3 weeks, what is the total cost of procurement from both suppliers, including the cost of delayed delivery for Supplier X?
$56,000
$60,000
$62,000
$64,000

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