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What are forms of procurement?
Good question. In business, forms of procurement usually refer to the different ways organizations acquire goods, services, or works. Procurements can be classified based on supplier selection method, purchasing approach, or contract structure. Common Forms of Procurement Direct Procurement Purchasing raw materials, components, or items directly used in production (e.g., manufacturing inputs). Indirect Procurement Acquiring goods and services that support operations but are not part of the final product (e.g., office supplies, IT services). Goods Procurement Buying physical products such as equipment, machinery, or consumables. Services Procurement Engaging third parties for professional or operational services (consulting, logistics, maintenance, marketing, etc.). Works Procurement Contracting construction or infrastructure-related activities (buildings, civil works, installations). Procurement Based on Supplier Selection Open Tendering Any qualified supplier can bid; it promotes competition and transparency. Restricted / Selective Tendering Only pre-qualified or invited suppliers participate. Single-Source/Sole Procurement Purchasing from one supplier due to specialization, urgency, or compatibility needs. Request for Quotation (RFQ) Used for standardized, low-complexity purchases, usually price-focused. Request for Proposal (RFP) Used for complex purchases where technical capability and approach matter. Procurement Based on Strategy Local Procurement Sourcing from domestic suppliers to reduce lead time or support local industry. Global Procurement Sourcing internationally for cost advantages, technology, or capacity. Strategic Procurement Long-term, value-driven sourcing aligned with business goals. Spot/Tactical Procurement Short-term or urgent purchasing to meet immediate needs. In the working area, companies use a mix of these forms depending on cost, risk, urgency, complexity, and compliance requirements.
What is the best B2B Portal?
The best B2B portal can vary based on specific business needs, but some of the most highly regarded platforms include Alibaba, ThomasNet, and TradeIndia. These portals offer extensive supplier directories, product listings, and tools for connecting businesses globally. Alibaba is particularly favored for its vast reach and variety of products, while ThomasNet excels in connecting manufacturers with industrial buyers. Ultimately, the best choice depends on your industry, target market, and specific requirements.
What means rfq?
RFQ means Request For Quotation.
What are rfp's and rfq's?
difference between eoi and rfq
What is the full form of RFQ?
Request For Quotation.
What does RFQ stand for in construction?
Request for Quotation
What does abbreviation LS mean in a RFQ?
if you mean Request for Quotation for RFQ, L.S. (lectori salutem - Latin): To whom it may concern (on letter) cheers, sunny
What is the difference between a RFQ and an RFP?
- RFQ is asking you how much you will charge to perform a task- RFP is asking you to specify how you would solve the problem and how much youwould charge for implementing the solution
What is rfq in project management?
RFQ stands for Request for Quote or Request for Quotation It is commonly used in Project Procurement Management. For ex: Let us say you are a builder and I want to construct an house, i will ask you for a quotation wherein you will give me a quote that says how much it would cost me, how much time you would take etc.
What is an RFP and how does it differ from an RFQ?
A Request for Quote or Quotation (RFQ) is usually used when the Owner knows exactly the type, model and quantity of goods it wishes to buy, while Request for Proposal (RFP)'s ask bidders to provide a solution to a problem that could be solved in different ways. An example of when to use a Request for Quote (RFQ) is if you are buying 100 each Toshiba Laptop Computers c/w 2 GB ram, 100 GB HD, DVD Burner, with Windows 7. You know your requirement and have a specification to issue with the request. When to use an RFP, would be if you were unsure on whether to purchase, lease, rent the same 100 computers with software and hardware requirements that may differ from PC to PC. This gives the bidders an opportunity to offer a solution to your requirement. With the above in mind, it should be noted that evaluating a RFQ is usually easier than trying to determine an award from the results of an RFP. Visit RFQPro.com for your free template pack.
What is rfq in e commerce?
In e-commerce, an RFQ, or Request for Quotation, is a formal process where a buyer solicits price and terms from suppliers for specific products or services. It typically involves detailing the specifications, quantities, and conditions required, allowing vendors to submit their proposals. RFQs are commonly used in B2B transactions to ensure competitive pricing and to facilitate negotiations before making a purchasing decision. This process helps buyers compare options and choose the best supplier for their needs.
Where can one buy a sandblasting cabinet online?
Looking on Amazon or eBay would be the best place to buy a sandblasting cabinet at a good price. There are probably many other stores online which will sell them. Besides, you can also sign in alibaba.com to search the supplier or publish a RFQ.
Explain the relationship between logical and physical design?
Request For Proposal (RFP) is a written list of features and specifications given to prospective vendors before a specific product or package has been selected, whereas Request For Quotation (RFQ) is used to obtain a price quotation or bid on a specific product of package.
Does ppda act in Uganda have thresholds?
Yes, The PPDA Act in Uganda prescribes certain thresholds. For example, RFQ - is limited to UGX 30 Million, Restricted (Services) - UGX 50 Million Restricted (Supplies) - UGX100 Million Restricted (Works) - UGX 70 Million e.t.c. Hope this helps.
