Asked by
Brittney Sylvia-Nicole
on Nov 30, 2024
Verified
In the case of vendors, instead of issuing a request for proposal RFP) for a list of commodities, the project team issues a request for quote RFQ).
Request For Proposal
A document issued by a company asking for detailed proposals from potential suppliers or service providers.
Request For Quote
A formal process in which vendors are asked to provide pricing and availability details for a specific product or service.
List Of Commodities
An itemized catalogue of goods, often used in the context of trading or economic analysis.
- Comprehend the process and importance of issuing RFQs and RFPs in procurement.
Verified Answer
NU
Learning Objectives
- Comprehend the process and importance of issuing RFQs and RFPs in procurement.