If the buyer is trying to determine which provider would offer the best value when and where it is needed but does not have a precise and unambiguous description or specification, he or she will typically issue request for proposal (RFP)
What is Request for Proposal?
When a product or service is needed but does not yet exist, a request for proposals (RFP) is used. The proposal may involve conducting research and development to produce the requested good or service.
The RFP establishes the initial requirements for the good or service and may, to varying degrees, dictate the manner and structure of the supplier's response. Effective RFPs frequently reflect business strategy and short- and long-term goals, giving vendors in-depth knowledge from which to offer a complimentary viewpoint.
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