Final answer:
The statement is false, as effective cost management within supply chain activities involves integrated and collaborative efforts rather than independent coordination. Cooperation with suppliers and customers is critical for achieving cost efficiencies.
Step-by-step explanation:
The statement that cost management emphasizes independently coordinating supply chain activities within your company and with other companies that act as suppliers and customers is FALSE.
Effective cost management in the context of supply chain management actually involves the integrated and collaborative coordination of activities with internal departments of a company as well as external partners like suppliers, customers, and other third-party service providers. The goal is to achieve efficiencies and cost savings across the entire supply chain.
For instance, a company might collaborate with its suppliers to manage inventories better through just-in-time deliveries, or it may work with customers to forecast demand more accurately. These cooperative strategies can help reduce waste, expedite product flow, and ultimately lead to more competitive pricing and improved service levels.