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What is Economic Tender Quantity Model Explained about?
The paper presents the Economic Tender Quantity (ETQ) model, which assists purchasers in determining the optimal number of suppliers to invite for tender submissions to minimize overall costs. It discusses the trade-off between the costs of the tendering process and the potential benefits of receiving better bids, highlighting the importance of a systematic approach to supplier selection. The authors also identify conditions and future research opportunities related to this decision-making process in purcha
- Author
- nga
- Language
- EN