The U.S. Navy has announced efforts to reward some of its top-performing government contractors by offering them incentives and more favorable contract terms, the Navy Times reports.
The initiative, known as the Preferred Supplier Program, is part of a series of efforts to reward contractors that demonstrate "exemplary contract performance," the paper says.
Citing the Federal Business Opportunities website, the paper reports that contractors demonstrating excellence in cost, schedule, performance quality and business relations will be granted Preferred Supplier Status under the incentive program.
A star rating system will also be used, with the highest five-star rank only available to those contractors maintaining an active energy efficiency program.
Data for the new program will be provided by the Contractor Performance Assessment Reporting System. The Navy Times reports that, pending approval, a pilot version of the program is expected to begin in October.
The Navy made more contracting news this week by awarding contracts worth more than $400 million each to three U.S. defense companies – Lockheed Martin, SAIC and General Dynamics. Military Aerospace Electronics reports that the Navy will use the contracts to buy common shipboard data networking equipment.
It’s interesting seeing incentives being used outside of the workplace and customer loyalty programs. Thanks for sharing the info!
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