Which statement is accurate regarding blanket purchase agreements (BPAs)?

Blanket Purchase Agreements (BPAs) are flexible procurement tools that can be established to facilitate recurring purchases of supplies or services. The accuracy of the statement regarding the establishment of BPAs with more than one supplier highlights a key feature of this procurement method. BPAs enable organizations to streamline the purchasing process by allowing them to create an agreement with multiple suppliers, which can lead to better pricing, improved service levels, and greater supply chain resilience.

This multi-supplier approach helps in meeting various demand levels and allows the agency to leverage competition among the suppliers to optimize costs and availability. It also can enable the agency to obtain supplies more quickly without the need to issue separate contracts each time a purchase is needed.

In contrast, limitations such as the requirement for a lengthy bidding process or restrictions to low-value contracts do not accurately describe the nature of BPAs. These agreements are intended to simplify purchasing, often bypassing some formal bidding processes, particularly in cases where they are established under simplified acquisition procedures.