0205

Problem

Compare and contrast the two general procurement strategies employed by the federal government: (1) formal advertising and (2) negotiated contract.

Step-by-step solution

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Step 1/2

For the government public businesses affairs, they need to make some purchase from suppliers or bidders. Once the procurement needs are finalized and documented, the federal government employs two different major procurement strategies. They are formal advertising and negotiated contract buying.

Step 2/2

There are some similarities and differences between the two procurement strategies; formal advertising and negotiated contract buying. They are as below.