CORe Exam Dumps | A supply manager seeks bids on a new piece of capital equipment. The equipment is budgeted at $115,000.

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Question 151/151

A supply manager seeks bids on a new piece of capital equipment. The equipment is budgeted at $115,000.
Three suppliers send in bids of $110,000, $114,000 and 5135,000. After receiving the bids, additional negotiations with the low bidder result in a final cost of $105,000. In this situation, what should the baseline value be for calculating cost avoidance?

A. $114,000

B. $135,000

C. $110,000

D. $115,000

Correct Answer: C

* Initial Bids Review: Evaluate the bids submitted by the suppliers ($110,000, $114,000, and $135,000).
* Lowest Bid Consideration: The lowest initial bid of $110,000 should be the baseline because it represents the market's competitive price before any negotiation.
* Calculate Cost Avoidance: After negotiations, the final cost is $105,000. The cost avoidance is calculated against the $110,000 baseline, showing the savings achieved through negotiation.
References
* Monczka, R. M., Handfield, R. B., Giunipero, L. C., & Patterson, J. L. (2016). Purchasing and Supply Chain Management. Cengage Learning.
* Burt, D. N., Petcavage, S. D., & Pinkerton, R. L. (2010). Supply Management. McGraw-Hill Education.

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