Analyze the following procurement documents. Include the key characteristics of each document, and explain the differences between...

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Analyze the following procurement documents. Include the keycharacteristics of each document, and explain the differencesbetween a statement of work and a request for proposal.
Request for Quotation (RFQ).
Request for Information (RFI).
Request for Proposal (RFP).
Statement of Work (SOW).
Identify the appropriate application of each of theseprocurement documents.
Consider the purpose and characteristics of the variousdocuments.
Describe how you would justify your selection of any particulardocument.

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Request for Quotation RFQ Purpose The main purpose of RFQ is to invite suppliers for submit their quotation for bidding process Characteristics Information about price per item Payment terms Contract terms Quality levels are requested for bidding The quote should be accurate Date and time are set to submit the quotations In many cases online quotations are requested for the ease of comparison In some cases due to law specific reasons See Answer

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