A/An ____ is a request to submit a proposal based on a set of specifications provided by a buyer.

Question

Quizplus · Accepted Answer

An RFQ (Request for Quote) is a request to submit a proposal based on a set of specifications provided by a buyer. It typically includes details such as the quantity, quality, and delivery requirements of the product or service being requested. Kanban is a lean manufacturing scheduling system, reverse auction is a type of auction where sellers bid down the price of a product or service, a PO (Purchase Order) is a document issued by a buyer to a seller indicating the products or services to be purchased, and a bill of materials is a list of the components, parts, and materials needed to manufacture a product.

A/An ____ Is a Request to Submit a Proposal Based