Supply Chain Glossary

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Bid


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

Courtesy of


 

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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Last update 12 Nov 2021
Output growth hampered further by material shortages, but expansion in new orders remains sharp
   Source: Markit US Manufacturing PMI   -  IHS Markit
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