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Title: Evaluating Vendors: Bid Prices Vs Real Price
Author: William P. Strider
Source: American Gas Association 1975
Year Published: 1975
Abstract: How can we best allocate our purchase dollars among the suppliers after they have tendered their bids? The lowest price may not be the best price. The lowest price may buy the wrong quality for the intended purpose, or it may buy poor delivery or poor service. The problem, when we analyze bids, is the classic one of determining how to get the most for the money. A method to evaluate purchases on more than price can be termed a Supplier Evaluation Program. It enables a purchaser to weigh other factors besides price alone. It evaluates a supplier and his product in the area of product quahty, R&D, delivery and service. It considers the total economic impact of a supplier upon the purchaser. PG&E has been using such an evaluation program for several years. It was used to analyze bids for our 1975 domestic gas meter requirements.

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