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Competitive bidding is a process widely used in operations management and procurement to obtain the best possible value for goods, services, or projects. It involves inviting multiple suppliers or contractors to submit their offers under specific terms and conditions, allowing the buyer to select the most suitable option based on cost, quality, delivery time, and other strategic factors. The ______ _______ ___ ________ ________ ____ ________ ___ ___ _________ _______ _______.
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