Accountancy students may scratch their heads searching for sole source justification for purchases homework answers. Many professional expert help is there available online to help complete student assignment. Accountancy and finance students need to have a grasp of project management to move forward in their career.
A decision of many manufacturing firms to try out the sole source is increasing nowadays. There are obvious risks along with the sole source, and that is a failure of the company in supplying materials. Benefits are high for a sole source when compared with risks and government and manufacturing companies feel sole source as a better alternative for project completion.
Concept behind Sole Source Justification for Purchases
No bid contract is what is meant by Sole Source Justification for Purchases.Â If a vendor meets objective to set up by company or firm, then management terms that vendor as sole source and awards contract.
Some criteria are to be met for fulfilling sole source concept.
The reason for choosing sole source
Sole source is chosen for fulfilling international agreement, and it is also chosen for projects that involve high public interest or public are at stake. National security issues or contracts prefer sole source as it gets legal protection. There are projects in which law would state that sole source is to be followed.
A sole source can remove barriers to projects and can bring project reliability. The contract, if it is of urgent purpose, can take sole source purpose to finish the project before time and reduce cost in completing a project.
A sole source would expedite the infrastructure development bid of a country, and a quicker turnaround would bring the economy forward. The experience of a vendor in handling the international projects would tilt the scale towards the sole source. Demonstrated expertise is the term used by companies for this.
The advertisement seeking service should have attracted only one bidder, and the bidder has a reputation for completing projects. Under these circumstances, the company may be justified in promoting sole source. The requested quotations may bring only one source as an applicant, and the company may be forced to give contract based on approaching deadline.
No other suppliers available in the market may force the company to move forward with a sole source. Product variation and training requirement costs would also make a company go for sole source.
Administrative costs are reduced when sole contract method is taken. The inferior products being supplied for the manufacturing reduce a lot when a sole contract is used. Price and income stability is another advantage of using the sole contract method. Regular supply of materials will ensure that work is not stalled and regular work would improve the economy of a country. Workers would get regular work and regular cash, and they could spend that on buying goods that would improve an economy.
The difference between sole source and single source
A single source is a process where there are many bidders for a contract. And the company management decides to give a contract to one. The decision would be based on the price of which its supply is promised to be made. There are instances where quality is also a factor in giving a contract. A single source will avoid controversy if there is accountability. Else, corruption charges could be raised against sole source award. Sole source contracts are awarded as there is the only bidder.
Why expert help for Sole Source Justification for Purchases Homework Answers
Students may find it difficult to grasp the technical complexities involved in the sole source. Faculty in class would take the class portion very fast, and a student would find it difficult to keep pace.
A student without understanding the basic would have to complete sole source justification for purchases homework answers within the deadline set. That would bring more pressure on the student. So a student can seek professional help that would guide the student forward with the task of completing the project.
Professional expert help provides a deeper analysis of the assignment topic by using graphs and other methods. Subject matter experts would use real business examples that involve large multinational corporations or companies having spread in various countries. This would impress the faculty and would help the student to get good grades.
What to look for in professional expert
There are some things that a student should check when approaching for sole source justification for purchases homework answers.
A professional expert should ensure that latest concept and current examples are a hallmark of assignment.