The Competitive Bidding Process Should Not Be Employed When the Following

True/False

The competitive bidding process should not be employed when the following conditions prevail:
The dollar value of the bid must be large enough to justify the expense of bidding.The specifications of the product on service must be precise enough for both the buying and selling firms to accurately cost out.There are enough selling firms in the market.There is adequate time to use this form of bidding. The competitive process usually takes from four to eight weeks for most industrial firms.