A ________ is sent out to a large number of potential vendors to serve as an initial market scan of the options.
A) request for proposal
B) request for information
C) request for quotation
D) request for tender

Question

Quizplus · Accepted Answer

A Request for Information (RFI) is typically sent out to a large number of potential vendors to gather information about their capabilities, products, or services. It is an initial market scan to identify potential options and does not require vendors to provide pricing or submit a proposal. A Request for Proposal (RFP), on the other hand, is a formal document that solicits proposals from vendors to provide a solution to a problem or need, and includes detailed specifications, evaluation criteria, and pricing information. A Request for Quotation (RFQ) is similar to an RFP, but is typically used when the product or service being procured is standard and pricing is the primary consideration. A Request for Tender (RFT) is similar to an RFP, but is typically used in government procurement to solicit bids for large-scale contracts or projects.

A ________ Is Sent Out to a Large Number of Potential