Asked by
Griffin Stephens
on Oct 27, 2024
Verified
When using a request for quotation (RFQ)or request for bid (RFB),the assumption is that specifications are nonstandard and difficult to describe.
Specifications
Detailed descriptions of the requirements, characteristics, or performance standards of a product, service, or material.
Request for Quotation (RFQ)
A formal solicitation process where suppliers are asked to provide bid proposals on specified goods or services, including price and delivery details.
- Understand the theories and repercussions of requesting information (RFI), seeking quotations (RFQ), and submitting proposals (RFP) during the selection of suppliers.
Verified Answer
KW
Learning Objectives
- Understand the theories and repercussions of requesting information (RFI), seeking quotations (RFQ), and submitting proposals (RFP) during the selection of suppliers.