A project team needs to purchase standardized network switches. The technical specifications, quantities, and delivery schedule are fully defined, and award will go strictly to the supplier that meets the requirements at the lowest total cost. Which solicitation document should the project manager issue to vendors?
When requirements are detailed and price is the dominant selection factor, the correct solicitation is a Request for Bid (also called an Invitation for Bid). An RFB instructs suppliers to submit sealed bids that meet the stated specifications, and the contract is awarded to the lowest-priced responsive and responsible bidder. An RFP is intended for complex solutions where value and approach are evaluated, an RFQ typically collects informal price quotes without a formal contract award process, and an RFI is used only to gather preliminary information from the market.
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What is a Request for Bid (RFB)?
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When should an organization use an RFB instead of other procurement methods?
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What are the potential disadvantages of using a Request for Bid?