This Purchase Order contract for Textiles, Clothing & Personal Accessories was awarded in FY2021 on February 05, 2021 to LANCS INDUSTRIES HOLDINGS, LLC by Norfolk Naval Shipyard. There have been $0.9k in obligations to date with a ceiling value of $0.9k, showing a 100% burn rate so far on the contract. The contract was not competed under any preference program with 1 offer received.
LANCS INDUSTRIES HOLDINGS, LLC is a contractor located in NM, doing primarily Aerospace & Defense > Aircraft, Ships/Submarines & Land Vehicles work for Navy. The company receives $391.4k 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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