Analyzing Bid Results controlling for number of vendors

bmack11235813

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Joined
Apr 17, 2019
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1
I am conducting a bid. I have 5 items I want to purchase at varying quantities and am receiving bids from 4 different vendors. I know how to calculate total min spend and show which vendor to utilize for each item.

Say I want to only set up purchase agreements with only 2 vendors. How can I analyze the data to determine which two vendors I should utilize? Is there a way to make this scalable - say I had 100 items and 20 vendors? Can I set a 'maximum' number of successful vendors and minimize total spend?

I was attempting to use solver but I can't think of the design that makes it work.

-Bryce

ItemQuantityVendor 1Vendor 2Vendor 3Vendor 4Min BidMin Vendor
A10$10$2$76$3$2Vendor 2
B12$45$24$6$10$6Vendor 3
C4$78$8$40$27$8Vendor 2
D25$45$96$38$4$4Vendor 4
E14$40$56$88$79$40Vendor 1
Total Spend $ 784

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