Depends on the specific assessment methodology - some contracts are lowest price; others are best value, which becomes more subjective.
Best value (or an equivalent) would apply when not procuring a staple item (pens or bleach) but something more technical, where various products might approach the solution differently, and where consulting expertise might be part of the solution. Various elements of the overall product-solution must be weighed against each other when considering between vendors. Cheapest is seldom best in situations where different vendors’ products are not “commodity like.”
States and municipalities vary in how they approach contracting.