Why not Sole source procurement?

Sole source procurement can limit competition, potentially resulting in higher costs and reduced innovation, as it relies on a single supplier. This approach may also lead to a lack of transparency and accountability, increasing the risk of procurement fraud or favoritism. Additionally, if the sole supplier fails to meet quality or delivery standards, there are fewer alternatives available to mitigate disruptions. Overall, diversifying suppliers can enhance value, drive better pricing, and foster competition.