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.

Question

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The description fits the definition of commodity products, which are high-volume, low-cost items that can be sourced through traditional bidding approaches that rely on market forces to determine a competitive price. Critical products are essential to the organization's operations, unique products are tailored to specific customer needs, custom-made products are designed according to client specifications, and generics are unbranded products that compete on price.

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