A capital budget has just been approved for facility expansion. Purchasing is beginning the process of supplier selection and contracting. Which of the following steps should be taken first?

Question

Quizplus · Accepted Answer

The first step in the supplier selection process after a capital budget has been approved for facility expansion is to gather information about potential suppliers. This is done through a Request for Information (RFI), which helps in understanding the capabilities, products, and services of suppliers before moving on to more detailed requests or negotiations.

A Capital Budget Has Just Been Approved for Facility Expansion