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PK0-003 · Question #95

Company ABC is looking into which technologies and suppliers could help it achieve business process automation. Which of the following methods should the company FIRST use to help it validate its thin

The correct answer is A. RFI. When a company first explores potential technologies and suppliers for a new initiative like business process automation, it should begin by issuing a Request for Information (RFI). An RFI helps gather general data, understand market capabilities, and validate initial ideas witho

Project management concepts

Question

Company ABC is looking into which technologies and suppliers could help it achieve business process automation. Which of the following methods should the company FIRST use to help it validate its thinking?

Options

  • ARFI
  • BCDM
  • CRFQ
  • DRFP

How the community answered

(23 responses)
  • A
    74% (17)
  • B
    4% (1)
  • C
    13% (3)
  • D
    9% (2)

Why each option

When a company first explores potential technologies and suppliers for a new initiative like business process automation, it should begin by issuing a Request for Information (RFI). An RFI helps gather general data, understand market capabilities, and validate initial ideas without committing to specific solutions.

ARFICorrect

An RFI (Request for Information) is the appropriate initial step when exploring new technologies or suppliers. Its purpose is to gather broad information about available solutions, market trends, and vendor capabilities to help a company validate its thinking before developing detailed requirements.

BCDM

CDM (Common Data Model) is a collection of standardized data schemas, not a method for surveying technologies and suppliers.

CRFQ

An RFQ (Request for Quotation) is used when requirements are already well-defined, and the primary goal is to obtain pricing information for specific goods or services.

DRFP

An RFP (Request for Proposal) is issued when detailed requirements are known, and the company seeks comprehensive proposals and solutions from qualified vendors, typically following an RFI phase.

Concept tested: Procurement process - RFI

Source: https://learn.microsoft.com/en-us/dynamics365/supply-chain/procurement/rfis-rfqs-rfps

Topics

#procurement#RFI#supplier evaluation

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