In the framework for strategic cost management, _____ are high-value products or services and can be sourced through traditional bidding approaches that require price analysis using market forces to do the work and identify what is a competitive price.

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Commodities are defined as high-value products or services that can be sourced through traditional bidding approaches, which require price analysis using market forces to identify competitive prices. Examples of commodities include raw materials, energy, and transportation services. Other options like critical, unique, and custom-made products often require more complex cost management strategies due to their specialized nature, while generics are typically low-value products that may not require as much cost management attention.

In the Framework for Strategic Cost Management, _____ Are High-Value