Total Best Value?
Source:     Author: Tactica    Publish time: 2022-05-11 12:51    2985 Views

“Total Best Value” is the ideal result of strategic sourcing which does not necessarily focus on the lowest price. If a buyer fails to weigh non-price factors carefully, both suppliers and end users will soon jump to the conclusion that the purchasing department is interested only in awarding business to the lowest bidder. A good sourcing process should include quality and performance factors, so buyers aren’t making price-only decisions and are predictably delivering an optimal mix of global suppliers, products and services.