Sunday, 21 August 2022

SalesGrowthRate : Definition , Importance , How to calculate and Four ways to Increase sales

What is SalesGrowthRate?

Sales growth rate measures your company's ability to generate revenue through sales over a fixed period of time. This rate is not only used by your company to look at internal successes and problems, it's also analyzed by investors to see if you're a company on the rise or a company starting to stagnate.

Why Sales growth is so Important?
Sales growth is an essential parameter for survival and financial growth of the company. A good sales growth can always be used for the benefits of the employees and company in terms of providing salary raise, acquiring new assets, an expansion of the company or the product line.

How do you calculate sales growth? 

To start, subtract the net sales of the prior period from that of the current period. Then, divide the result by the net sales of the prior period. Multiply the result by 100 to get the percent sales growth.
Four ways to Increase sales rate?

i.  Increase the number of customers.
ii. Increase the average transaction size.
iii. Increase the frequency of transactions per customer.
iv. Raise your prices

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Saturday, 20 August 2022

Forecasting : Meaning in Management , Importance , Tools and types of Forecasting

 Forecasting (in Managements)

Forecasting is the process of projecting past sales demand into the future. Implementing a forecasting system enables you to assess current market trends and sales quickly so that you can make informed decisions about the operations. You can use forecasts to make planning decisions about: Customer orders.

Importance of Forecasting

Forecasting helps you plan the next steps for your business. It helps you gain a clear understanding of what measures you need to put in place to grow. It allows you to come up with smart short-term and long-term goals.

Types of Forecasting

● Similar to market research, the Delphi method of financial forecasting sources its data from experts who can speak knowledgeably on the subjects being .
● Moving averages are a smoothing technique that looks at the underlying pattern of a set of data to establish an estimate of future values. 
● This is the second well known method to produce a smoothed Time Series. Exponential Smoothing assigns exponentially decreasing weights as the observation.
● There are three basic types—qualitative techniques, time series analysis and projection, and causal models. The first uses qualitative data (expert opinion)
● Drift Method - Allowing predictions to rise or decrease over time is a variant on the nave process, with the amount of change over time (called the drift) .
● Simple Linear Regression ... Regression analysis is a widely used tool for analyzing the relationship between variables for prediction purposes.
● A company uses multiple linear regression to forecast revenues when two or more independent variables are required for a projection. 
Tools of Forecasting
Top business forecasting tools
  • Cash flow statements. 
  • Expert reports.
  • Industry association reports. 
  • Internal assessments. 
  • Modeling tools. 
  • Organization charts. 
  • Performance indicators. 
  • Production charts.

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Wednesday, 17 August 2022

Costleadershipstrategy : Meaning, Characteristics, Benefits and Example of Costleadershipstrategy

Cost leadership strategy is a business strategy that emphasizes the importance of cost reductions.
Business Strategy Essentials You Always Wanted To Know (Second Edition) (Self-Learning Management Series)
A cost leadership strategy, also known as a low-cost strategy, is a business management approach that focuses on achieving economic success by providing the lowest priced products or services in a particular market.


The term "cost leadership" was first coined by Michael Porter in his book, Competitive Strategy. He defined it as "a strategy that provides a product or service at a lower cost than the competition."
Cost leadership is achieved through a variety of factors, including economies of scale, the use of standardization and automation to reduce labour costs, and the use of advertising to make consumers aware of the lower price.
Characteristics of Costleadershipstrategy
Costleadership is a strategy where a company maintains its competitive advantage by keeping its costs low.

Costleadership is not just about reducing costs, it also means being able to produce the same or better quality at lower cost.

The three main components of Costleadership are:

- Low-cost production

- Lower operating expenses

- Low prices
Benefits of Costleadershipstrategy
Cost leadership is a strategy that focuses on cost-cutting and low prices to provide the best value to customers.

The benefits of this strategy are:

- lower prices

- better quality products and services

Example _1.
2.

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Tuesday, 16 August 2022

Labelling : Meaning , Types , Purpose and Example of labelling marketing


In business and marketing, the process of adding labels to products is very important. This is because labels provide customers with vital information about the product, such as what it is, how to use it, and any warnings that need to be heeded. Read on to find out more about labelling in marketing, including its different types and purposes.

What is Labelling?
In marketing, a label is something affixed to a product or service that provides information about the item. This can include things like the name of the product, the price, the manufacturer, and more. Customers use labels to help make purchasing decisions, and businesses use labels to promote their products. There are many different types of labels, and each serves a different purpose.

Some labels are required by law, such as those that list ingredients or warn of hazards. Others are voluntary, such as labels that indicate organic or fair trade status. Some labels are temporary, while others are permanent. And some labels are applied directly to the product, while others are displayed on packaging or in advertisements.Eco-Standards, Product Labelling and Green Consumerism (Consumption and Public Life)
Labelling can be a powerful marketing tool. It can communicate important information to customers and help businesses differentiate their products from competitors. When used thoughtfully, labelling can help businesses build customer loyalty and drive sales.

The Different Types of Labelling

In marketing, there are different types of labels that can be used in order to target a specific audience. Here are the different types of labelling:

1. Product Labelling
This type of label is usually found on products themselves and provides information regarding the product. This can include things such as the name of the product, the ingredients, the country of origin, etc.

2. Price Labelling
Price labels are usually found on products in stores and provide information regarding the price of the product. This can help consumers compare prices between different products before making a purchase.
3. Brand Labelling
Brand labels are usually found on products that have a specific brand name attached to them. This can help consumers recognise the product and remember it for future purchases.

4. Marketing Labelling
Marketing labels are usually found on products that are being marketed towards a specific audience. This can include things such as age ranges, genders, interests, etc.

The Purpose of Labelling

In marketing, product labels are used to identify and promote products. They also provide information about the product, such as its price, manufacturer, country of origin, and list of ingredients. Product labels can be found on all kinds of products, from food and drinks to cleaning products and clothes.

There are several different types of labels that are used for different purposes. For example, some labels are designed to help consumers make informed buying decisions, while others are meant to increase brand awareness or discourage counterfeiting. Here is a closer look at the different types of product labels and their purpose:

1. Informational Labels
Informational labels provide consumers with important information about the product, such as its ingredients, price, place of origin, or expiration date. This type of label is required by law on certain products, such as food and drugs.

2. Nutritional Labels
Nutritional labels give consumers detailed information about the nutritional content of a product. They are required by law on most food products sold in the United States.

3. Health and Safety Labels
Health and safety labels are required by law on some products, such as medications and cleaning products. These labels include important information about the
Examples of Labelling in Marketing

In marketing, labels are often used to identify and differentiate products. They can be found on products of all types, including food, clothing, and other consumer goods. Labels can provide important information about a product, such as its ingredients, manufacturer, or country of origin. In some cases, labels can also be used to convey messages about a company's brand or identity.

There are many different types of labels that can be used in marketing. Here are a few examples:

Brand labels: Brand labels are typically found on products that are produced by a specific company. They include the company's name and logo, and can be used to help consumers identify the source of a product.

Product labels: Product labels provide information about a specific product, such as its name, price, and size. In some cases, product labels can also include images or other graphics.

Ingredients labels: Ingredients labels list the ingredients that are used to make a product. This information can be important for consumers who have allergies or other dietary restrictions.

Nutrition labels: Nutrition labels provide information about the nutritional content of a food product. This information can be important for consumers who are trying to maintain a healthy diet.
Conclusion

There are many different types of labels, each with its own purpose. In marketing, labels can be used to target a specific audience, convey important information, or even just make a product look more attractive. Whatever the reason, labelling is an important part of the marketing process. With so many different options available, it's important to choose the right label for your needs. Not sure where to start? Check out ourlabelling services to get started today.
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Customer : Meaning , Types , Customer Needs and Overviews

Customer is a noun. The customer is the person or company that buys your product or service. Customers come in all shapes and sizes, and they have different needs and expectations. They can be local or global, young or old, male or female—the possibilities are endless!
Customer types:

-Businesses and organizations

-Individuals who buy products or services

-Social media users (for example, people who use Instagram)

Customer needs:
-Product or service features that are important to them. 

-How they can use the product or service that they want.

A customer is anyone who buys from us. There are three types of customers, each with different needs:

are people who have an existing relationship with us and are buying from us in order to meet their own needs.

2. Consumer-to-consumer (C2C) customers are people who have a direct relationship with you and are buying from you because they want to get something for themselves or someone else.

3. Consumer-to-business (C2B) customers are those who make purchases on behalf of others—such as companies, nonprofit organizations, and other organizations that buy products or services from you but don't want their name printed on the package they receive.

The customer is the person who buys your product or service. There are several types of customers:

-revenue-generating customers (people who buy things you sell)

-free trial customers (customers who have not yet made a purchase)

-direct response customers (those who contact you directly to request a product or service)

-wholesale customers (those who purchase from you in bulk, such as restaurants or retailers)

"A customer is someone who buys our products or services."
-Norman Rockwell, American artist and illustrator.

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Saturday, 13 August 2022

Value Investing : Meaning , How does Work , Fundamentals , Pros and Cons

What is value investing?
Value investing is a strategy that uses the price or value of a company to determine its prospects. Value investors look at the price of a stock compared to its earnings, cash flow, and other factors to determine if they think it's undervalued or overvalued.

How does value investing work?

Value investors use a discounted cash flow analysis, which takes into consideration all costs and benefits related to a project or company. They also compare historical data on earnings per share and other factors like growth rates and sales per employee. This lets them see what kind of return an investor might expect from owning the company over time.

Share 5 fundamentals of value investing?
1) Diversification: Value investors want to own multiple companies in different industries because each industry will react differently to changes in government regulation, consumer preferences, and other market factors that affect their performance. For example, if you own one newspaper publisher but another publisher that publishes magazines—both publishers may face different challenges depending on what kind of content they're offering consumers at any given time (e.g., whether they're focused on

What is value investing?

Value investing is a style of stock investing that involves finding undervalued companies and investing in them. You can think of it as the opposite of growth investing: Instead of focusing on how many dollars a company is making, you're focused on whether its earnings are enough to cover its costs.
How does value investing work?

In value investing, you look for companies that have fallen out of favor with investors. Those who buy these stocks aren't looking at how much money the company is making; they're looking at how much money the company will make once they get their hands on it. If a company's earnings are already covered by its costs and it has no debt, this means that its stock price has likely fallen below what it's worth—and if you can buy shares in these companies at a discount, your investment will grow as the company grows.
Value investing is a method of investing that involves buying stocks at a discount from their true value. While the strategy can be used to increase returns, it can also result in losses.

Value investors look for companies whose shares are trading below their real net worth, or intrinsic value. They are willing to pay more than they should to acquire these shares because they believe the price will increase over time as the company’s value increases.

Value investors may use different strategies depending on their beliefs about the business, but some common approaches include:
- Fundamental analysis - The investor looks at the company’s financial statements and other publicly available data to determine its true value.

- Technical analysis - The investor uses charts and graphs to examine how stocks react to certain events, such as earnings reports or news releases; this can help them predict future trends.
Value investing is a way of investing that looks for companies with low valuations and high potential. It's an especially effective strategy when used in conjunction with other methods of investing, like fundamental analysis and technical analysis.
Value investing is based on the idea that if you can buy a stock at a discount to its intrinsic value—that is, the value it would have absent financial or corporate issues—you'll be able to make money from that discount. So if a company has high revenue and low net income, it might be worth buying because you think it will be profitable in the future.
Value investing is a way to invest in stocks, bonds, or other securities that you believe are undervalued compared to their intrinsic value.
Pros:

-Value investors get a higher probability of making money over time because they can buy when the stock is less expensive

-Value investors have more control over their investments than speculators and short-sellers do

Cons:

-It requires a lot of research and analysis on the company's financials and industry trends.

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Brand Management : Meaning , Importance , Strategies and Process

What is Brand Management?
Brand management is the process of managing a brand's identity, reputation, and image. It involves the development and maintenance of a brand's image and reputation through all forms of media.
The 4 branding strategies: 

1. Image Building: Creating awareness about your brand in a targeted way that is relevant to your target audience
2. Message Delivery: Making sure your message gets through to the right people at the right time with the right content

3. Reputation Management: Making sure that your company or product's reputation is consistent with its image so it doesn't appear as if it is changing over time

4. Customer Relationships: Maintaining strong customer relationships by understanding what motivates customers to buy from you

Brand management refers to the process of managing a brand's identity, values, and image. It is a critical part of every company's marketing strategy because it helps build consumer loyalty and trust.
Brand management is also known as "brand management process" or "branding process." The 4 branding strategies are: 

1. Brand Identity - what the brand stands for in the minds of consumers

2. Brand Purpose - where the brand wants to go in the future: what it will look like when it gets there
3. Brand Essence - how products represent the brand's core promise or values

4. Brand Image - how people see your brand through their own experiences

Brand management is the process of managing a brand.
There are four strategies:

1. Positioning: Brand positioning is when you decide what your brand is going to be and how it will be represented by your company. You want to make sure that you're representing your company in the best way possible so that you can increase sales and market share.

2. Pricing: Pricing is deciding what price you want to charge for your product or service, as well as how much profit margin you want to have. You want to make sure that you're making money on every sale you make, so that's why it's important to have a good pricing strategy in place!
3. Advertising: Advertising is all about getting the word out about your brand—it's about getting people excited about who you are and what you do, which will ultimately lead them back into your stores or offices when they need something from there again later on down the road (or even before then!).
4. Promotion: Promotion is all about getting people excited about whatever it is that makes up your brand, whether that means creating an interesting new social media campaign or just posting pictures of cute animals on Instagram for everyone else
Brand management is the process of creating, maintaining, communicating and protecting a brand.

Brand management strategies fall into four categories: 
- Identity - establishes a brand's personality and its place in the world.

- Positioning - defines the value proposition for customers and how that value proposition is presented to them.

- Pricing and packaging - defines how much a customer should pay for goods or services and what they should expect from the product or service.

- Promotion - describes how to get in front of customers and engage with them.
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Wednesday, 10 August 2022

Consumer Centric Marketing : Meaning , Why it's Important and Examples of Consumer Centric Marketing

What is Consumer Centric Marketing?

Consumer centric marketing is a concept in marketing that focuses on the needs and wants of consumers. It's also referred to as customer-centric or customer-focused marketing. In simple terms, it means that your business should focus on what consumers need, want and expect from your brand or service. This is not to say that you should ignore other aspects of your business; it just means that you need to be more aware of what consumers think about your product or service than you did before.
Why is Consumer Centric Marketing is Important?

Marketers have traditionally focused on their products, but consumers are quickly changing the way they shop for products. And as more millennials enter the workforce, they expect businesses to provide them with services similar to what they get from their friends. While this shift in consumer behavior is occurring across multiple industries, some companies are already taking advantage of this change by offering employees flexible work
Integrated Marketing Communication: A Consumer-Centric Approach for the Digital Era schedules and flexible hours—all things that make it easier for people to spend time with their family or pursue their passions outside of work hours.
Consumer centric marketing is a marketing strategy that focuses on the needs, wants, and desires of consumers. It is a direct response marketing approach that focuses on the individual consumer.

Consumer centric marketing is important because it helps companies understand their customers better and then meet their needs more effectively. This makes for better relationships with your customers, which leads to higher sales and greater profits.

Consumer Centric Marketing is a marketing strategy that focuses on the needs, wants and desires of the consumer. The goal of this type of marketing is to connect with consumers on an emotional level.

Consumer Centric Marketing is important because it helps businesses understand their target audience better than ever before. This allows them to create targeted marketing campaigns that will attract more customers and increase sales.

Example of Consumer Centric Marketing: McDonalds' McFlurry
McDonalds has been using consumer centric marketing for decades now, which is why we all love McFlurry so much! If you haven't tried one yet, then you're missing out on some of the best ice cream around! It's easy to see why this product has become so popular — not only does it taste delicious but it also looks so cool!
Consumer centric marketing is the process of creating value for the consumer, rather than for the company or company goals. It focuses on what consumers want and need, as opposed to what companies think they want and need.

The idea behind consumer centric marketing is that if you understand your customers, you can create products and services that meet their needs better than your competitors. This means that the focus of your marketing efforts will be more towards helping consumers solve their problems, rather than selling them more stuff.
In a Consumer Centric World...

Consumer centric marketing means that companies must make sure that their products and services meet the needs of their customers instead of just trying to sell them more things. In order for this to happen, companies need to develop a unique understanding of what drives people to buy certain products or services in order to make sure they are designing something that will satisfy those needs.

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Business Valuation : Meaning , Importance , Methods and Example of Buisness Valuation

Business valuation is the process of determining an estimated value for a business or its assets. It is usually done in conjunction with an acquisition or sale of the business. Business valuation can be done for many reasons, including:


- To determine if a company should be acquired or sold
- To decide how much money a company should get when it's sold

- As part of an IPO (Initial Public Offering) or other initial public offering

- To determine what type of debt should be issued to finance a new business venture

Business valuation is a process that helps companies determine the value of their businesses. This is done by using a variety of methods to analyze the current state of a business and its financial position.
There are many different types of businesses, so there are multiple types of business valuations. One method used in valuing businesses involves analyzing their assets, liabilities and equity. 

In order to calculate the value of a company's total assets, it must be divided into three categories: tangible assets (such as machinery), intangible assets (like patents) and goodwill (the difference between an acquisition price and the net book value of its tangible assets).

Then, tangible assets can be classified into two categories: current assets and non-current assets. Current assets include cash, accounts receivable and inventory. Non-current assets include property, plant and equipment.
Finally, we can summarize these four categories into one number called "book value": the sum total of all tangible and intangible assets less any liabilities less any cash on hand at the end of each accounting period (usually one year for most businesses).

Book value is then compared to market capitalization - which is calculated by multiplying book
Business valuation is the process of analyzing and estimating the value of an enterprise. It is done to help assess the worth of a company, as well as determine how much money should be paid for it in a sale.
There are two main methods of business valuation: income-based and asset-based. Asset-based methods focus on comparing assets of one company with those of another, while income-based methods compare revenues generated by each company's operations against one another.
Business valuation is the process of determining the value of a business enterprise. It is used to determine whether it's a good investment to acquire or sell a business.
Business valuation can be performed by an accountant, banker, lawyer, or other professional. The most common method of business valuation is the DCF model, which estimates the value based on discounted cash flows (DCF). DCF is also known as "dividend-consent", since it assumes that a company can keep doing what it has been doing and still grow at a stable rate forever.

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Tuesday, 9 August 2022

Inventory Management : Meaning , Benefits , Types and Techniques of Inventory

Inventory Management


Introduction

Inventory management is a necessary evil when it comes to running a successful business. It helps you keep track of your inventory and find ways to improve your manufacturing, delivery and selling processes. In some cases, it will also help you identify areas where you're losing money or carrying too much inventory.

What is Inventory Management?

Inventory management is a necessary evil when it comes to running a successful business. It helps you keep track of your inventory and find ways to improve your manufacturing, delivery and selling processes.


Inventory management software can make managing inventory easier by allowing you to keep track of what’s in stock, manage orders and orders that haven’t been received yet, as well as generate reports based on certain parameters that may include sales volume or cost per unit sold.

Inventory Management is a process that helps your business manage the physical assets and materials it has on hand. The type of inventory management you use depends on your industry and the type of materials that you sell.

There are several types of inventory management, including cost-based systems, demand-based systems, and just-in-time (JIT) systems. Each one has different benefits and techniques to help keep your business running smoothly.


Inventory Management is the process of managing inventory. It's a fundamental part of any business and is one of the most important elements to consider when starting a new venture.

The benefits of inventory management include:

-Reducing costs

-Improving efficiency

-Lowering risk

-Increasing profits

Inventory management is the process of growing and maintaining a company's inventory.

Inventory management has many benefits, including:

1. It helps to control costs and increase profits by decreasing the amount of inventory that is held in stock.

2. It helps to maintain high standards in quality control, as well as customer satisfaction.


3. It helps to create an environment where employees can work efficiently because they know what products are needed at all times.

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Inventory management is the process of managing the flow of goods from suppliers to retailers and ultimately to customers. In a nutshell, it's about making sure you have everything you need to run your business on hand when you need it, so you can focus on what matters most: serving your customers.

Why is Inventory Management important?

Let's start with the obvious: without inventory, you'd have nothing to sell at all! You wouldn't be able to offer any goods or services for sale. Without inventory, you'd have no way of pricing them competitively and keeping track of sales trends.

This might sound like a problem that only affects large retailers with huge warehouses full of inventory sitting around waiting to be sold, but it doesn't have to be that way! In fact, using equipment such as RFID tags and barcode scanners can help small businesses take advantage of this "God-given" advantage as well.

 When you're running a business, it's important to keep track of everything you have and how much is left. This can be difficult when there are so many items to track, but it doesn't have to be! Here are a few ways you can make your inventory management easier:

1. Use a spreadsheet program such as Google Sheets or Microsoft Excel. This makes it easy to keep track of inventory numbers and sales totals, which will help you manage your finances well.

2. Track the number of units sold by item and by store. This helps you determine what items sell best in each location, which will help you decide where to place new stores.
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3. Keep track of sales data separately from inventory data so that you can see trends in sales over time instead of just looking at each week's numbers individually.(This is especially useful if there are seasonal shifts or changes in consumer demand.)



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Sunday, 7 August 2022

Competitive Bidding : Meaning , Types , Objectives and Advantages


What is Competitive Bidding?
Competitive bidding is a process through which contractors, suppliers and even government agencies set their own price for goods and services. It is a form of bidding in which there are multiple bidders for the same project or task. Competitive bidding allows the contractor to get the best price from different suppliers to achieve the best value for money.

What are the types of competitive bidding?

There are three types of competitive bidding: open, sealed bid and negotiated bid. Open bids are publicly advertised with an expectation that all interested parties will compete fairly and honestly with no special privileges or advantages granted by either party; however, an open bid may also include a confidential component where only certain bidders know that they have been awarded work - this type of inquiry can be used by all bidders because they do not know who has been awarded work until after they submit their bids; Sealed Bid A sealed bid
Competitive bidding is a method of contracting in which multiple suppliers submit proposals to the purchaser and the lowest-priced, technically acceptable proposal is selected. Competitive bidding is usually used for government contracts with large numbers of potential suppliers, but it can also be used in private industry for small orders.

Competitive bidding requires an open market where all bids are solicited and evaluated by all interested parties. The objective of competitive bidding is to obtain the lowest price possible while meeting technical specifications and providing quality products or services. Competitive bidding can eliminate waste and reduce cost while improving service quality. Competitive bidding has many advantages over noncompetitive methods such as negotiation and bid rigging.

Competitive bidding is a process of competitively offering goods and services to customers. The purpose of competitive bidding is to ensure that the most efficient suppliers are providing their services at the lowest possible cost to the government.
Competitive bidding was introduced by the government of India in the year 2005, under the National eGovernance Plan (NeGP). The objective behind this initiative was to improve service delivery, reduce cost and enhance transparency in government procurement processes.

The government of India has decided to implement competitive bidding for various types of goods and services including:

Construction materials such as cement, steel, glass and cement tiles;

Construction works such as road repair, laying of pipelines and construction of bridges;

Sewage treatment plants;

Electrical power distribution systems;

Environmental management systems;

Telecommunication towers etc.

Competitive bidding is a method of contracting that allows buyers and sellers to obtain the best price and most advantageous terms. Competitive bidding is also known as reverse auction, in which the buyer specifies the price he or she is willing to pay, while the seller decides who will win the contract.
Competitive bidding has many advantages over traditional methods of contracting and obtaining work. The most important advantage is that it increases competition among suppliers, resulting in better prices for all parties involved. Competitive bidding also allows customers to choose from multiple suppliers, which helps with product selection and ensures greater customer satisfaction.

Competitive bidding may take several forms:

1) Multiple Bidders - In this type of competitive bidding, more than one potential buyer participates in the process by submitting their bids simultaneously. This eliminates any kind of collusion between buyers so that there can be no collusion among bidders when awarding contracts.

2) Open Tendering - In this form of competitive bidding, bidders submit their bids openly without any restrictions on how they can be evaluated or scored by an evaluation committee. This ensures that all bidders have equal access to information about each other's bids and allows them to submit their bids at any time during the process instead of waiting until after.

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SalesGrowthRate : Definition , Importance , How to calculate and Four ways to Increase sales

What is SalesGrowthRate? Sales growth rate  measures your company's ability to generate revenue through sales over a fixed p...