Purchase Planner Question:

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Define two-step procurement?

Purchase Planner Interview Question
Purchase Planner Interview Question

Answer:

A bidding procedure usually consisting of two competitive steps. Step one consists of a technical proposal for furnishing the product or service and the second step consists of a comparison of costs. Bidding then proceeds as in conventional sealed bid procedures.

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Which process can be used to determine a vendor's price reasonableness when lack of pricing information available?Define benchmarking?