* Need for Local Suppliers: DEF, Inc. is looking for local sources of materials, equipment, and bulk items in a new geographic region.
* RFI Process: Issuing an RFI allows DEF to gather information about potential suppliers in the new region, understanding their capabilities and offerings.
* RFQ Process: Following the RFI with an RFQ enables DEF to obtain detailed quotations from the shortlisted suppliers based on the information gathered, ensuring competitive pricing and terms.
* Strategic Sourcing: This approach aligns with strategic sourcing principles by thoroughly understanding the supplier market before seeking quotations.
References
* CIPS. (n.d.). Effective Use of RFIs and RFQs in Procurement.
* APQC. (2019). Best Practices in Supplier Selection and Evaluation.