This Purchase Order contract for Facility Related Materials was awarded in FY2020 on April 21, 2020 to Heico Corporation by Construction and Equipment Directorate. There have been $1.1k in obligations to date with a ceiling value of $1.1k, showing a 100% burn rate so far on the contract. The contract was not competed under any preference program with 3 offers received.
Heico Corporation is a contractor located in AZ, doing primarily Aerospace & Defense > Sustainment S&E work for Army. The company receives $64.3M 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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