Which innovative procurement method was first introduced by the US government in 1994 to streamline purchasing and is now used by governments worldwide?

When governments need to purchase products and services, they employ specific procurement strategies. These strategies are designed to ensure transparency, fairness, and value for taxpayer dollars. This trivia question focuses on a famous government procurement innovation that revolutionized how public sector purchasing decisions are made. Test your knowledge about this important aspect of government product acquisition!

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Micro-purchase thresholds (allowing purchases under a certain dollar amount without competitive bidding)
Government-wide purchase cards (similar to credit cards for authorized government purchases)
Reverse auctions (where vendors compete to offer the lowest price in real-time)
Category management (consolidating purchases into specific product/service categories)