AuthorSameer Panda

Sameer Panda is the founder of Pakka Business. He shares valuable insights and tips on business networking and entrepreneurship that can help you on your own journey to success. You can also check out his other articles and social media accounts for more information and inspiration.

RFQ vs RFI vs RFO vs RFP what is the difference?

RFQ, RFI, RFO, and RFP are all commonly used in procurement and purchasing processes, but they have different meanings and uses. In case RFQ, RFO, and RFP of the supplier are then expected to provide a formal offer that includes the cost of the goods or services, as well as any other relevant information. But in the case of RFI, the supplier is then expected to provide information that addresses...

What is a Request for Offers (RFO)?

Request for Offers (RFO) is a process used by companies and organizations to solicit proposals from potential suppliers or vendors for goods or services. The RFO process is commonly used in the procurement of goods and services in government, construction, and other industries. What is a Request for Offers? A Request for Offers (RFO) is a document that is issued by a company or organization to...

What is a Request for Information (RFI)?

Request for Information (RFI) is a document or process used by organizations to gather information from potential suppliers or vendors. It is a common step in the procurement process and is used to identify and evaluate potential solutions to a specific problem or need. RFI’s are typically used in the early stages of a project or procurement process, to help organizations understand what...

What is a Request for Quotations (RFQ)?

A Request for Quotations (RFQ) is a document used by organizations to solicit quotes from suppliers for goods or services. RFQs typically include detailed specifications and requirements for the products or services being requested, as well as information on the organization’s budget and the timeline for delivery. What You Need to Know About Request for Quotations To ensure a successful RFQ...

Building a Lasting Network: 8 Essential Strategies

Networking is a vital part of building and maintaining professional relationships. By connecting with individuals in your industry, you can gain valuable insights, access new opportunities, and build a support system to help you achieve your goals. 8 Ways to Keep Your Network Engaged and Active Remember that networking is not about simply collecting business cards or adding people to your...

10 Benefits of Business Networking for Women Professionals

Business networking is a vital aspect of any professional’s career, and this is especially true for women professionals. Women face unique challenges in the business world and often have to work harder to prove themselves and gain visibility in their industry. However, by involving themselves in business networking, women professionals can overcome these challenges and achieve greater...

Realizing the value of E- procurement

We have witnessed how the Coronavirus pandemic has wreaked havoc on businesses by disrupting major supply chains which have led to scores of problems for businesses by upsetting the supply-demand balance resulting in deliveries getting delayed, and improper inventories which eventually results in rising in prices  Procurement is a hands-on function and probably the most underrated and the...

Importance of analytics and data in procurement

Businesses, a decade ago were usually plagued with high procurement costs and overall inefficiency which added to their operational costs. Analysis wasn’t a concept that had gathered the kind of traction it has today and companies have realized that analyzing their spending predominantly on procurement has far-reaching benefits and provides insights on suppliers about their reliability which is a...

Top 20 Electrical Cable Manufacturers and Suppliers in India

When it comes to lighting or powering the world with energy, electric cables play a critical role. They are the sole way to move power from one location to another. Cable makers all across the world are working hard to meet the growing demand for high-quality cables that can safely and reliably power the planet. Cable firms’ revenue has grown at a CAGR of 14-15 per cent over the last 15...

What is the Procure-to-Pay cycle?

Purchase-to-pay / procure-to-pay / source-to-pay / source-to-pay these words might confuse you when the time comes to conduct your business. However, don’t get them mixed up because they aren’t interchangeable. Recognizing each concept and the actions involved with each process can make your procurement efforts a lot easier. In this article, we’ll walk over the procure-to-pay...