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.
[1][2][3] While analyzing the bids of a product or service, the buying side may consider the following: