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Cost reductions of this magnitude occur because the buyer adopts a set of proven business practices and manages each project through an innovative web-based software system. When coupled with a pre-qualified vendor pool and competitive bidding among the vendors deemed most qualified to do the work, the buyer is able to tap into vendor production gaps or what would otherwise be downtime and no revenue for the vendor. To fill production gaps, vendors submit discount pricing. Low bid typically wins because the buyer already knows that, due to the rigorous prequalification process, each vendor in its pool is going to deliver a quality job on time.
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- People:
- William Gindlesperger
- Places:
- Greece
- Italy
- United States
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