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A request for information (RFI) is a common business process whose purpose is to collect written information about the capabilities of various suppliers. [1] Normally it follows a format that can be used for comparative purposes. An RFI is primarily used to gather information to help make a decision on what steps to take next.
The submittal process requires lead-time consideration to produce the submittal, shop drawing (engineering), review and revise and the shop fabrication period. Careful planning is necessary to ensure that the products are ordered and delivered within the construction schedule, so as not to delay any activities.
In procurement technology, ERFx (or eRFx) [1] is an acronym for electronic request for [x], where x can be Proposal (RFP), Quotation (RFQ), Information (RFI) or Tender (RFT). Other pseudonymous acronyms include ITT (Invitation to Tender) and PQQ (Pre Qualification Questionnaire).
Longest-processing-time-first (LPT) is a greedy algorithm for job scheduling. The input to the algorithm is a set of jobs, each of which has a specific processing-time. There is also a number m specifying the number of machines that can process the jobs. The LPT algorithm works as follows:
Similar requests include a request for quotation (RFQ) and a request for information (RFI), where a customer needs more information from vendors before submitting an RFP. An RFI is typically followed by an RFP or RFQ. [2] When an RFP is made after negotiations with prospective contractors, the submitted tender is known as a BAFO (best and final ...
Processing Lead Time: the time required to procure or manufacture an item. Postprocessing Lead Time: the time to make a purchased item available in inventory from the time you receive it (including quarantine, inspection, etc.) Example. Company A needs a part that can be manufactured in two days once Company B has received an order.
If you need a new passport, you’re in luck. U.S. passport processing times dropped again this week to their shortest since before the COVID-19 pandemic, the State Department said.
Modified following business day: the payment date is rolled to the next business day unless doing so would cause the payment to be in the next calendar month, in which case the payment date is rolled to the previous business day. Many institutions have month-end accounting procedures that necessitate this. Previous business day: the payment ...