Correction:

Take a look at the MIN() function. Name the range where vendor prices go as
'relative' to the product row. For example, if your products are listed in
ColA and you use ColC to ColE for vendors, then...

A1 = "Product"
C1 = "VendorA"
D1 = "VendorB"
E1 = "VendorC"

Select C1:E1;

Open the Define Name dialog:

In the Name box type 'Sheet1'!VendorPrice
..where the sheetname is wrapped in single quotes followed by the
Exclamation character.
(Use your actual sheetname if it's not "Sheet1")

In the RefersTo box type =$C1:$E1

Click the 'Add' button and close the dialog.

Select the cells in cols C:E where you want the highlighting.
Open the ConditionalFormatting dialog;

Choose 'Cell value is' plus 'equal to' and type =min(vendorprice) in
the value box;

Click the 'Format...' button and choose a fill pattern.

Adjust or edit the range refs to match your actuals.

--
Garry

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