Purchasing Manager how-to
How to Run a Competitive Bid
Competition lowers prices.
Quick answer
Competition lowers prices. In short: define; find; issue, then complete the remaining steps below.
Step by step
Define requirements.
Find qualified suppliers.
Issue the RFQ or RFP.
Answer questions fairly.
Score responses.
Negotiate and award.
Safety reminders for purchasing managers
- Follow ethics and anti-bribery rules
- Check supplier safety and compliance
- Protect confidential bids
- Follow public procurement law
Key terms
Strategic sourcing · RFP · RFQ · Total cost of ownership · Spend analysis · Category management: see the full purchasing manager glossary.