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These contracts are competitivelybid and offer access to a broad range of goods and services at negotiated rates, making them ideal for organizations of all sizes. Using a cooperative purchasing program ensures compliance with state and federal laws while reducing the risks associated with supplier management.
Managing flood risks A federal agency responsible for flood riskmanagement can use EOS to create and update floodplain maps. With such a large pool of vendors, agencies are able to get multiple competitivebids to get the best price for required services.
The suggestions apply to all segments of competitivebidding, including the SME segments of Supplier Diversity, Indigenous and Social Procurement. These reactions can lead to strict riskmanagement and purchasing policies with overly complicated bid documents and onerous requirements that are imposing on potential SME bidders.
Having multiple suppliers to choose from allows a procurement team to leverage competitivebidding, ensuring the best value for the organization. In such cases, the competitivebidding requirement is not applicable. Therefore, procurement teams must implement strategies to manage these risks effectively.
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