Supply Chain Management Professional (SCMP) · Question
When is a 'request for quotation' (RFQ) typically used in procurement?
An RFQ is sent when the buyer has a clear and defined need for a product or service and seeks competitive price quotes from multiple suppliers.
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Question: When is a 'request for quotation' (RFQ) typically used in procurement?
Answer options: ✅ When detailed specifications for goods/services are well-defined and competitive pricing is sought.
- When exploring potential solutions for an unknown problem.
- When attempting to build long-term strategic supplier relationships.
- When assessing supplier capabilities rather than price.
Correct answer: When detailed specifications for goods/services are well-defined and competitive pricing is sought.
Explanation: An RFQ is sent when the buyer has a clear and defined need for a product or service and seeks competitive price quotes from multiple suppliers.
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