Competitive bidding and negotiation are two methods commonly used when selecting a supplier. Which of the following statements is NOT consistent with best practices when a firm is trying to decide whether a process of bidding or negotiation is most appropriate? Question 46 options: Bidding is appropriate when the marketplace is competitive, which means that it has an adequate number of qualified sellers that want the business Negotiation is the better approach when the purchase requires agreement on a wide range of performance factors such as price, quality, delivery, risk sharing, and product support Bidding is appropriate when the buyer wants or needs early supplier involvement Negotiation works best when the supplier cannot accurately determine risks or costs