BUISENESS MANAGEMENT
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An assessment or calculation of the approximate cost or value of a product or service
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An offer for goods or services that follows a request for a quotation made by an official body, e.g. local government
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Either A or B
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None of the above
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Detailed explanation-1: -Which is why tender is basically an offer to supply goods and services to the buyer based on their requirements. In more simple terms, you can say that a tender is an offer to perform a particular task or supply goods at a pre-decided and set price rate.
Detailed explanation-2: -A Request for Quote (RFQ) is for purchasing goods and services that are lower in risk and complexity. A Request for Tender (RFT) is for the purchase of goods and services that are high in complexity or risk, which can be strategic by nature.
Detailed explanation-3: -Tender/Quotation means an offer to supply goods or services or execute work at a stated price.
Detailed explanation-4: -: an offer of goods by a seller to a buyer that consists of putting and holding them at the disposition of the buyer and giving the buyer any notification reasonably necessary for taking delivery.