BVM

BVM, or Best Value Model, is a procurement approach used by organizations to evaluate suppliers or contractors based on factors beyond just price. It aims to identify the best overall value by considering criteria such as quality, service, and the long-term benefits of a product or service. This method encourages competition and innovation while ensuring that the chosen option meets the specific needs of the organization. By focusing on the best value rather than the lowest cost, BVM helps achieve more effective and sustainable outcomes in purchasing decisions.