This Purchase Order contract for Hardware & Tools was awarded in FY2019 on October 10, 2018 to Raytheon Technologies by Aviation Supplier Operations. There have been $28.4k in obligations to date with a ceiling value of $28.4k, showing a 100% burn rate so far on the contract. The contract was not competed under any preference program with 2 offers received. We expect a 1 year duration with ultimate completion date of March 11, 2019.
Raytheon Technologies is a contractor located in CT, doing primarily Aerospace & Defense > Weapons & Ammunition work for Navy. The company receives $28B annually in federal awards (as of FY2020). Also, they have shown success winning No/Limited Bias 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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