IEEE strives to obtain the highest-value goods and services at the lowest price. Competitive bidding is the formal process that allows IEEE staff and volunteers to properly survey the marketplace by stimulating competition and ensuring impartiality in buying decisions. For assistance with any bid process or to learn about methods for successful supplier selection and engagement, contact IEEE Strategic Sourcing.
Below is the Competitive Bidding Process in accordance with the Financial Operations Manual (FOM.8) – Contract Approval (updated 11 April 2013):
Competitive bidding is required for contracts and commodity orders valued at or above US$250,000 unless a compelling business reason is proposed to and agreed to by the CFO and /or Treasurer that would exempt the contractual arrangement from such process. Examples of compelling business reasons include situations where a vendor is the sole provider of a product or service and situations where the costs associated with changing vendors would be very high.
Conference hotel, caterer, and convention center contracts are exempt from this requirement. Strategic Sourcing authorized staff and volunteer subject-matter experts shall jointly administer and document the bidding process. The staff and volunteers shall make the vendor selection based on a number of requirements, including but not limited to professional qualifications, experience, past reliability, past performance, and price. Once finalized, all correspondence shall be electronically filed for central record retention. The rationale for the vendor selection shall be documented to the CFO and/or Treasurer.