Many buyers in procurement functions may be compliant and follow corporate process but they often lack general wisdom. This is what John Ruskin(1819-1900) had to say about that: “It's unwise to pay too much, but it's worse to pay too little.
When you pay too much, you lose a little money - that's all. When you pay too little, you sometimes lose everything,
because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot - it can't be done.
If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that you will
have enough to pay for something better.”