Buyers use competitive bidding when price is a dominant criteria and the required item (or service)has straightforward material specifications.

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Competitive bidding is commonly used when the price is the dominant criteria and the required item has straightforward material specifications. Buyers solicit bids from multiple suppliers and evaluate them based on the price and other factors such as delivery time, quality, and warranties. This process helps buyers to get the best value for their money and encourages suppliers to offer competitive prices and improve their offerings.

Buyers Use Competitive Bidding When Price Is a Dominant Criteria