Business Pitch Dictionary by pitch.dog
Procurement evaluation & award · Core

Best value

Also called: most advantageous offer

ELI5

Selection based on the best balance of price, quality and other stated factors.

Used in conversation

“Document the approval for best value before the award is announced.”

Pitch context

You will see “Best value” in operating plans, procurement packs, supplier reviews and supply-chain reports when the discussion reaches procurement evaluation & award.

Why it matters: In procurement evaluation & award, a loose definition can change rights, obligations, approval, disclosure or enforceability.

Caution

Meaning, enforceability and required process vary by jurisdiction and agreement; this definition is not legal advice.

Sources & evidence · 3

Direct term-level sources and supporting source families.