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Supply Chain Glossary

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Bid


Source: Procurement Glossary
Author: Paul Rogers
Institute: CIPS - UK

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The word ‘bid’ is used generically to describe any proposals and may be used both to describe the buyer’s issue of the ‘bid documents’ to potential bidders and, the actual submission of bids by the respondents.  The term encompasses quotes, proposals, tenders and auction offers.  See also Offer.

 

 

 

 

 

 

 

 

 

 

 

 

 

 




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