This Purchase Order contract for Hardware & Tools was awarded in FY2022 on November 08, 2021 to Federal Resources Supply Company by Office of Assisted Acquisition Services. There have been $0.1k in obligations to date with a ceiling value of $0.1k, showing a 100% burn rate so far on the contract. The contract was competed under Small Business Set-Aside -- Total preference program with 6 offers received.
Federal Resources Supply Company is a contractor located in MD, doing primarily Marine Products & Materials > Industrial Products & Services work for Defense. The company receives $1.5B annually in federal awards (as of FY2020). Also, they have shown success winning IDC contracts concentrated mainly on a singular customer focused portfolio.
Purchase orders offer the Federal Government an avenue to streamline smaller purchases. Compared to the typical procurement process, where a requirement moves through several milestones before award, purchase orders allow for a quick turnaround to fulfill commodity and service needs. The total value of a transaction is the primary prerequisite for the use of purchase orders. In more familiar terms, purchase orders resemble a trip to a local retail store to buy a few items.
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