An RFQ is often the first step in two-stage procurement. In the second step, owners will issue a request for proposal (RFP) to qualified contractors. In other cases, a project owner may select a general contractor simply on the basis of their SOQ. This happens most commonly on public ...
In many organizations, purchasing is simply a transactional activity. You need something, and you buy it. But while purchasing is the tactical and shorter-term component of procurement, that doesn’t mean it is any less strategic. Effective purchasing policies and procedures can play a strategic ...