Keeping your answer to Question 2 in mind, use the Framework for Strategic Cost Management (Monczka, Handfield, Giunipero and Patterson, 2020, p.416) to answer this question. In a virtual meeting with your teams from each location, you announce the introduction of a new initiative, namely, supply chain strategic cost management. With your understanding of the above framework, explain to your staff how to prioritise their cost reduction activities (5) marks and then provide two examples to help them understand how to apply the framework. Position the items listed below in the framework and motivate your choice. - Cotton (100\% pure 1000 thread count) (5 marks) - Office supplies (copier paper, stationery items, etc.) (5 marks) 5 marks for providing a rationale for using this framework (15) 5 marks for correctly identifying and explaining the quadrant for Cotton 5 marks for correctly identifying and explaining the quadrant for Office supplies