Package bidding

Package bidding is a procurement process where an organization solicits offers not just for individual items or services but for a combined set of them as a single package. This approach encourages suppliers to propose comprehensive solutions that fulfill multiple needs at once, often leading to cost savings and streamlined delivery. It helps the buyer evaluate the overall value of the bundled goods or services, fostering competition among vendors to provide the best combined offer rather than just the lowest price for individual components.