In the first e-book in the series, we discussed the three most common types of requests submitted by customers - the Request for Quote, the Request for Proposal, and the Request for Information. In this module, we will take a look at each of these and identify their difference and similarities. Generally in some books and organizations, managers view RFPs and RFQs interchangeably - as if they were the same. But this is far from the truth. The RFQ and RFP are distinct documents having different causal actors. The following will clarify.
As a basic cost document, the contents of the Request-For-Quote differs significantly from that of the RFP and the RFI. While the RFP and the RFI contain detailed technical and management sections, with the price section supporting these, the RFQ contains a detailed pricing section with the technical and management sections referring to this. In the RFQ, it is not unusual to eliminate the management and technical sections altogether.
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