Let's say vendors names are in A1:A8 and their bids are in B1:B8
Select A1:B8; use Format | Conditional Formatting
Select Formula is and enter =$B1=MIN($B$1:$B$8)
Now click the Format button on the Conditional Formatting dialog; open the
Patterns tab and choose a colour for you highlighting
Suppose B5 has the lowest value, then A5:B5 will be highlighted
best wishes