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-auction

Question

Quizplus · Accepted Answer

A Request for Quotation (RFQ) is a formal request that the buyer sends to potential suppliers, asking them to prepare and submit a bid for a specific product or service. The request includes the terms and conditions that the supplier must follow to be considered, such as price, delivery time, and quantity. The RFQ allows the buyer to receive competitive bids from multiple suppliers and choose the one that best meets their needs.

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