When companies use a ____, they already know the specific products or service they want and need to obtain price quotations or bids from vendors.
A)request for quotation (RFQ)
B)net present value (NPV)
C)request for proposal (RFP)
D)return on investment (ROI)

Question

Quizplus · Accepted Answer

A request for quotation (RFQ) is used when companies already know what particular products or services they need and request vendors to submit quotations or bids for those specific items. The other options listed - net present value (NPV), request for proposal (RFP), and return on investment (ROI) - are financial metrics or business processes that are not directly related to obtaining price quotes for specific products/services.

When Companies Use a ____, They Already Know the Specific