CORe Exam Dumps | DEF, Inc. is a multinational oil company expanding into a new geographic region. The firm's policy is

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Question 82/151

DEF, Inc. is a multinational oil company expanding into a new geographic region. The firm's policy is to purchase locally for its operations whenever possible. Thus, DEF needs to find sources of materials, basic equipment, and standard bulk items within the new region. Which of the following should DEF do FIRST?

A. Issue a Request for Quotation (RFQ)

B. Conduct a suppliers' conference

C. Issue a Request for Information (RFI)

D. Issue a Request for Proposal (RFP)

Correct Answer: C

* ] Understand the Need: DEF, Inc. needs to find local sources for materials and equipment in a new geographic region.
* Initial Information Gathering:
* An RFI is used to collect information about potential suppliers' capabilities, offerings, and market conditions.
* This step helps in understanding the supplier landscape and identifying potential suppliers.
* Evaluate Responses: Analyze the information gathered from the RFI to shortlist suppliers for further engagement.
* Subsequent Steps: Based on RFI responses, the company can issue RFQs or RFPs to procure the required materials and equipment. References:
* Procurement and Sourcing Best Practices
* Supplier Selection and Evaluation Processes
* Strategic Sourcing Frameworks

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