The process of selecting a MRO supplier based on “lowest bid price” is flawed in that the process results in a higher total cost to the company when MRO inventory materials are consumed. In most companies, the procurement department is responsible for soliciting quotes [RFQ] for MRO materials, assessing the quotes, and selecting the suppliers. … Continue reading The Real Cost of Low Price Suppliers: First in a Series of Four Case Studies Depicting Increased Cost Burdens Effected by Using ‘Low Bid’ MRO Inventory Suppliers