Management Glossary

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request for proposal
Abbreviated as RFP, a request for proposal is a document sent or otherwise made available to prospective suppliers asking them how they propose fulfilling the specified requirements of the requesting organization and what price they will charge to supply the services and/or products described in the supplier's response to the RFP. RFPs may be send to a select group of suppliers or they may be published publicly soliciting proposals from any company/individual able to fulfill the requirements.
Contributed by: Managerwise Staff

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