What does BVS mean in GENERAL
Best Value Solution (BVS) is an approach to achieving solutions and outcomes that provide the greatest economic, social and environmental benefit when considering all elements of cost, quality and performance implications. It is a process whereby alternative approaches are critically evaluated and compared in order to identify the most effective overall solution. BVS is used within private industry and government procurement processes, providing a systematic approach for selecting suppliers for goods, services and construction works.
BVS meaning in General in Computing
BVS mostly used in an acronym General in Category Computing that means Best Value Solution
Shorthand: BVS,
Full Form: Best Value Solution
For more information of "Best Value Solution", see the section below.
Explanation
The Best Value Solution approach allows buyers to analyze options across multiple dimensions such as quality, cost, performance, innovation, sustainability, legal requirements, customer satisfaction and other considerations. The goal is to find the best solution with the highest overall value for money spent. To identify this BVS requires a comprehensive evaluation process that looks at all aspects of an opportunity or requirement including supplier capability and capacity to deliver. Through this process buyers are able to make informed decisions which balance cost against full life-cycle costs and impacts over the entire supply chain process.
Final Words:
Best Value Solution (BVS) provides organizations with a robust decision-making strategy that takes into account both short-term needs as well as long-term goals. By relying on evidence-based solutions rather than intuition alone it can help organizations save time and money while ensuring compliance with regulations. Furthermore, by taking a more holistic view of their supply chain organizations can make better choices which improve customer satisfaction while also helping towards more sustainable operations.
BVS also stands for: |
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| All stands for BVS |