This question is about what a production supervisor does.

What is a commodity product?

By Justin Parker - Apr. 25, 2023

A commodity product refers to a type of good or service that is thought of as being common, or basic, and not different from other products of its same type. Commodity products are usually sold in high-volume amounts and are not easily identified by features or brand in comparison to similar products that are produced and sold by competitors.

Examples of commodity products in agriculture include the following:

Wheat
Corn
Soybeans

Examples of commodity products in industrial fields include the following:

Crude oil
Steel
Aluminum

Commodity products are typically sold at market price. The market price is often based on supply and demand, instead of being based on the particular characteristics, brands, or features of the commodity product. Due to commodity products often not having strong contrasts and competitive prices, these items can have price fluctuations and lower profit margins.

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