SLO 8.2. If the buyer does not have a clear and unambiguous description or specification and wants to find out which supplier can deliver the best value when and where needed, he or she will typically issue a: Request for quotation (RFQ) Request for proposal (RFP) Request for information (RFI) Request for bid (RFB) Request for suggestions (RFS)

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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SLO 8.2. If the buyer does not have a clear and unambiguous description or specification and wants to find out which supplier can deliver the best value when and where needed, he or she will typically issue a:

Request for quotation (RFQ)
Request for proposal (RFP)
Request for information (RFI)
Request for bid (RFB)
Request for suggestions (RFS)

SLO 9.1. Blanket purchase orders:

Reduce costs by decreasing the number of purchase orders issued
Cover multiple purchase requirements on one order
Are difficult to prepare
Reduce costs by decreasing the number of purchase orders issued and cover multiple purchase requirements on one order
Reduce costs by decreasing the number of purchase orders issued, cover multiple purchase requirements on one order, and are difficult to prepare
Expert Solution
Step 1

If you have any desire to purchase materials from a supplier for an expert venture, you might consider reaching them with inquiries before making a buy. To find out how much the materials cost, you can request a cost statement. You can request a statement, share a requested rundown of things and make sense of why you're requesting those particular things. It could make the citing system more proficient assuming you incorporate the ideal sum for everything recorded. Consider making a projectile for everything so the beneficiary knows to track down a statement for each.

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