Which of the following features the solicitation of proposals from an exclusive set of potential suppliers?
A) Negotiation
B) Segment bidding
C) Competition bidding
D) Closed bidding
E) Profit maximization

Question

Quizplus · Accepted Answer

Closed bidding is a procurement method that involves soliciting proposals from a pre-selected list of potential suppliers. This could be through an invite-only process or by sending out a Request for Proposal (RFP) to a specific group of vendors who meet the organization's requirements. Closed bidding is typically used when an organization wants to work with a particular vendor or a limited number of vendors.

Which of the Following Features the Solicitation of Proposals from an Exclusive