When companies use a request for quotation (RFQ), they already know the specific products or services they want and need to obtain price estimates or bids from vendors.
What is a request for quotation (RFQ)?
A request for quote (RFQ) is a process in which an organization requests price quotations from a group of possible suppliers or service providers in order to supply or provide goods or services.
An RFQ is sent when you know exactly what product or service you want and need simply the pricing.
Therefore, Companies that use a request for quotation (RFQ) already know what products or services they want and require price estimates or bids from vendors.
To learn more about the request for quotation (RFQ), refer to the link:
https://brainly.com/question/17279619
#SPJ1
