Industry WIKI

Multisourcing is the concept of working with multiple suppliers who are also competitors. Large-scale buyers, such as the U.S. federal government, may want to feel assured that there is more than one supplier for an item.

A request for proposal (RFP) is a form of reverse auction, initiated by an organisation interested in the procurement of a service or product, that solicits a business proposal from potential suppliers. It is usually part of a complex sales process, and made through a bidding process.