Asked by
EDGARDO MEDINA
on Oct 19, 2024
Verified
The project team develops an RFQ based on the quality and schedule needs of the project and sends the RFQ to the identified qualified suppliers.
Quality And Schedule Needs
The requirements concerning the standard of work to be delivered and the timeline for its completion in a project.
RFQ
Stands for Request for Quotation, a document that invites suppliers to submit a quote for the supply of specific goods or services.
Qualified Suppliers
Suppliers that have been evaluated and determined to meet the necessary standards and criteria to provide goods or services.
- Familiarize oneself with the approach and importance of generating Request for Quotations (RFQs) and Request for Proposals (RFPs) in the context of procurement.
Verified Answer
DS
Learning Objectives
- Familiarize oneself with the approach and importance of generating Request for Quotations (RFQs) and Request for Proposals (RFPs) in the context of procurement.