What is a request for quote (RFQ)? And what is the difference between RFQ vs. RFP (request for proposal) and RFI (request for information)? In this article, we explain these terms, which refer to documents issued in different stages of the procurement process in plant project business. RFQ MEANING The term RFQ stands for “request… read more »
A purchase order is a binding document issued by the procurement department for a supplier, stating the terms under which a purchase is made. An order confirmation is a document issued by a seller confirming, to the buyer, the acceptance of a purchase order. Any discrepancy between the purchase order and the order confirmation shall… read more »
The terms ODM, OBM, OEM terms designate alternative setups of manufacturing operations. The difference between these production strategies lies in the degree of outsourcing of design, engineering, and manufacturing operations that a brand owner implements (from no outsourcing, i.e. “OBM”, to full outsourcing, i.e. “ODM”). ODM (Original Design Manufacturing) This is an arrangement by which a manufacturer… read more »
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