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When to use a RFP versus a RFQ
This is a good question and one we hear often. We will try our best to give you a simple answer to help you make a determination when performing your purchasing duties.
Documents issued by the Purchasing group can be an RFQ (request for quote), RFI (request for information), RFP (request for proposal), or ITQ (invitation to quote), IFB (invitation for bid) or others.
A RFQ is usually used when the Owner knows exactly the type and quantity of goods it wants to buy, while 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, 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.
Topics: Quotation Templates, Quotes General, RFP - Request for Proposal, RFQ - Request for Quotation | »