by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is a Request for Quote (RFQ)?Request for Quote is a document issued by an organization or a company inviting suppliers or vendors to bid for supplying a specific product or service. When a company needs to procure some product or service from outside suppliers,...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is a Request for Proposal?A Request for Proposal is a document issued by companies or organizations inviting qualified vendors (or service providers) to bid for an available project or program.How a Request for Proposal WorksThe organization or the company...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is an Electronic Product Code?An Electronic Product Code (EPC) is a numerical code used to identify different commodities. An EPC is basically an identifier but it has many more functions. For instance, an electronic product code contains numbers that can be used...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is an Exporter Identification Number?An exporter identification number (EIN) is required for shipping goods from United States to other foreign country. The EIN is issued by Internal Revenue Service, Department of Treasury. It is is filed through the Automated...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Enterprise Resource Planning (ERP)?Employer or Enterprise resource making plans (ERP) is a process wherein an organization or a company, a producer, or manager integrate the vital elements of its commercial enterprise. An ERP management system integrates...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is ISO 9000?In 1987, the International Organization for Standardization (ISO) established the ISO 9000 family of standards. This family comprises a system of numbers utilized in documenting a systems quality effectiveness.Where does ISO 9000 come from?This family...
