At which stage do you issue the ITT/RFQ?

The issuing of the Invitation to Tender (ITT) or Request for Quotation (RFQ) typically occurs during a specific stage in the procurement process, which is commonly identified as the stage where suppliers are formally invited to submit bids for the contract. This process is crucial as it allows the organization to gather bids from various suppliers, ensuring competition and the ability to assess different options available in the market.

In most structured procurement processes, the appropriate stage for issuing the ITT/RFQ aligns with the phase after the preparation of all relevant documentation and project specification. This would occur after establishing the initial project plan and requirements specified in earlier stages, ensuring that all necessary information is available to potential bidders.

During the stage characterized by the issuance of the ITT/RFQ, organizations focus on inviting offers from suppliers, thereby moving closer to the selection of a contractor. This is essential because it transitions the procurement process from the planning phase to the action phase, where competitive pricing and service offers are solicited.

In summary, the issuance of the ITT/RFQ is critical to the procurement process as it signals that the organization is ready to engage suppliers formally and evaluate their bids in the following stages.