Which of the following statement is true in the case of procurement from equipment vendors?
A) The lowest bid will win the contract.
B) The lowest bid may not win the contract.
C) The most innovative concept, irrespective of cost, wins the contract.
D) Suppliers who quote higher prices do not win contracts.
E) Suppliers who meet the project schedule will win the contract.

Question

Quizplus · Accepted Answer

The selection of equipment vendors is not based solely on the lowest bid. Other factors such as quality, reliability, delivery time, warranty, and maintenance services, may also be considered. Therefore, the lowest bid may not necessarily win the contract.

Which of the Following Statement Is True in the Case