Vendor bid analysis

Vendor Bid Analysis (Vendor analysis) is a technique used to figure out the cost of a project by comparing the bids submitted by many suppliers. This can be accomplished by considering the costs (via quotes, bids, proposals, etc.) presented for project work. By using a selection criteria divided into categories, vendor proposals have to meet these criteria or may be eliminated.

Evaluating Bids
While analyzing the bids of a product or service, the buying side may consider the following:
 * Records from previous deals
 * Meeting with quality needs
 * Seller capacity and resources
 * Meeting deadlines in records
 * Financial capability