Issues involved in a vendor selection process, Other Subject

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QUESTION

Outsourcing if done right can benefit an organization. However, if wrong decision is taken, it can cost the organization not only in terms of time and money but also its goodwill in the market. Vendor selection process is a very important part in the outsourcing plan

(a) What are the main issues involved in a vendor selection process?

(b) What do you understand by Request for Information and Request for Proposal (RFP)?

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