A/An _____ is a formal request for the suppliers to prepare bids, based on the terms and conditions set by the buyer.
A)RFQ
B)purchase order
C)RFI
D)supplier analysis
E)e-RA

Question

Quizplus · Accepted Answer

An RFQ (Request for Quote) is a formal request for the suppliers to prepare bids, based on the terms and conditions set by the buyer. This process is often used to obtain pricing and delivery information from potential suppliers before making a final decision. A purchase order is a document that confirms the details of an order, but it is not used to request bids. An RFI (Request for Information) is used to gather information about a supplier's capabilities, products, or services, but it is not a formal request for bids. Supplier analysis and e-RA (electronic reverse auction) are not relevant to the question.

A/An _____ Is a Formal Request for the Suppliers to Prepare