A Request for Quotation (RFQ) is the correct document for soliciting formal, detailed proposals, including pricing and technical specifications, when the requirements are clear but the items are not standard catalog items. It is used for custom or complex purchases where negotiation is expected.

The ‘Create from Agreement’ feature allows users to quickly create requisitions based on existing, pre-negotiated contracts (agreements). This ensures compliance with negotiated terms, speeds up the process, and maintains consistency, making it the most efficient method for this scenario.

The correct approach is collaborative. Using the Supplier Portal to share performance data initiates a fact-based dialogue to identify root causes (e.g., logistics, planning). This aligns with continuous improvement principles and aims to solve the problem rather than just report it or arbitrarily change metrics.

Sourcing Templates can be configured with predefined rules and settings, such as a mandatory minimum number of suppliers (e.g., three bids). Using a template enforces policy compliance automatically when creating a new sourcing event, ensuring the $75,000 event adheres to the competitive bidding rule.

The Award Notice is a critical formal step. It communicates the final decision to all participants, providing official closure to the sourcing event. This documentation is essential for audit trails and often triggers downstream processes, such as contract creation or purchase order generation.

An Auction is an interactive, real-time negotiation event where suppliers can see anonymous competitive pressure (like rank or price) and submit improved bids over multiple rounds. This is ideal for dynamically driving down price while maintaining technical compliance.

The system uses configurable approval rules and hierarchies (often based on job role, amount, item category, etc.) to automatically route documents through a sequential or parallel approval chain. This ensures the IT Director approves before it goes to Finance, enforcing policy and segregation of duties.

Supplier access to a specific sourcing event is typically gated through a secure registration process. The invitation email contains a unique link. The supplier user must click this ‘Register’ link to authenticate (or create credentials) and gain access to that particular event; simply having a supplier account may not be sufficient.

Three-way matching (PO, Receipt, Invoice) is a fundamental internal control. It verifies that what was invoiced matches what was ordered (PO) and what was physically received (Receipt). This prevents payment for unauthorized, incorrect, or undelivered goods, protecting company assets.

A Request for Quotation (RFQ) is the correct document for soliciting formal, detailed proposals, including pricing and technical specifications, when the requirements are clear but the items are not standard catalog items. It is used for custom or complex purchases where negotiation is expected.0