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.
a. critical products
b. unique products
c. custom-made products
d. generics
e. commodities
Question 2
Partnerships with dealers, such as that enjoyed by Caterpillar tractors are based largely on:
a. Good communication.
b. Long-term channel strategy.
c. Very low prices.
d. Using technology and up-to-date information systems.
e. Common goals.
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Describe the Conceptual Forecasting Framework in your own words.