Select your language

Suggested languages for you:
Log In Start studying!
Answers without the blur. Just sign up for free and you're in → Illustration

Q2OQ

Expert-verified
Operations And Supply Chain Management
Found in: Page 417
Operations And Supply Chain Management

Operations And Supply Chain Management

Book edition 14th
Author(s) F. Robert Jacobs
Pages 800 pages
ISBN 9780078024023

Short Answer

Sometimes a company may need to purchase goods or services that are unique, very complex, and/or extremely expensive. These would not be routine purchases, but there may be some vendors that could supply what is needed. What process would be used to transmit the company’s needs to the available vendors, asking for a detailed response to the needs?

In this situation, the company will ask for a request for a proposal from vendors.

See the step by step solution

Step by Step Solution

Request for proposal

A request for proposal contains a formal request made by the company to a potential vendor, which contains a detailed specification of products to be purchased it ask or a bid from vendors who satisfy those specifications mentioned by the company.

Features of request for proposal

  1. The main purpose of the request for proposal is to choose an agency partner and to assess these agencies based on their idea and proposed solution.
  2. It is focused on the defined initiative of the project.
  3. It occurs after the final budget, authority, need, a timeline has been established.
  4. The response to the request for proposal contains very detailed information that should give clients everything based on which they can make their final choice.

Recommended explanations on Business-studies Textbooks

94% of StudySmarter users get better grades.

Sign up for free
94% of StudySmarter users get better grades.