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Get the free What is a RFQ? Request for Quotation #shorts #supplychain

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Ref: 202/RFQ/2020 Date: 09/09/2020 Department: Communication DepartmentRequest for Quotation (202/RFQ/2020) You are requested to submit your quotation and terms for the following work: Maroon Electricity Company
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01
Gather information about the product or service you are requesting.
02
Create a detailed description of the items or services required.
03
Specify the quantity needed for each item or service.
04
Include any specific requirements, such as delivery time or quality standards.
05
Research potential suppliers who can fulfill your request.
06
Send out the RFQ to selected suppliers.
07
Review and evaluate the responses received from suppliers.
08
Select the best offer and negotiate terms if needed.
09
Award the contract to the chosen supplier.

Who needs what is a rfq?

01
Businesses or organizations looking to purchase goods or services in a competitive manner.
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Procurement departments or professionals responsible for sourcing and purchasing products.
03
Companies seeking to compare pricing and quality from different suppliers.
04
Government agencies or non-profit organizations requesting bids for projects.
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A Request for Quotation (RFQ) is a document used in procurement to solicit competitive bids from potential suppliers for a specific product or service.
Typically, it is the purchasing department or procurement team within an organization that is responsible for filing a RFQ.
To fill out a RFQ, the requester must provide detailed specifications of the product or service needed, quantity required, delivery requirements, and any other relevant information for vendors to provide accurate quotes.
The purpose of a RFQ is to gather competitive bids from potential suppliers in order to select the best value option for a specific product or service.
Information such as product specifications, quantity needed, delivery requirements, terms and conditions, and any other relevant details that suppliers need to provide accurate quotes.
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