Analyzing Vendor Bids
The final stage of any Request for Quote (RFQ) or Request for Proposal (RFP), is the process of awarding the contract to the successful bidder. A key part of this stage is when the buyers collect all the information together to compare the various bids, along with the technical & commercial details of each. This can be a challenging and time-consuming process if your buyer team doesn’t have the right tools to help perform that task.
What is a Commercial Bid Analysis?
The purpose of the Competitive, or Commercial Bid Analysis (CBA) undertaken by the procurement team is as follows: