Supply Chain Management Professional (SCMP) · Question
In Canadian public procurement, what is the principle of 'best value' primarily seeking?
Best value aims to achieve the most advantageous outcome, considering factors beyond just price, such as quality, functionality, and long-term costs.
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Question: In Canadian public procurement, what is the principle of 'best value' primarily seeking?
Answer options: ✅ The optimal balance between quality, service, and price
- Always selecting the lowest-priced bid
- Prioritizing local suppliers regardless of cost
- Minimizing the number of suppliers involved
Correct answer: The optimal balance between quality, service, and price
Explanation: Best value aims to achieve the most advantageous outcome, considering factors beyond just price, such as quality, functionality, and long-term costs.
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