The purchase department wishes to purchase expensive factory equipment. As per the rules, tenders are invited from various vendors and suppliers. This will be done through -

Tender notice in newspapers

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Solution

The correct option is A Tender notice in newspapers
An invitation to tender (ITT) is the initial step in competitive tendering, in which suppliers and contractors are invited to provide offers for supply or service contracts, the ITT is one process in IT procurement.Invitations to tender are also known as calls for bids or calls for tenders.

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Similar questions

Q. Statement: Tender specification will not be issued to the firms where there is 25% or more default in supplies against earlier purchase orders placed on them' - Condition of a Company X inviting tenders for the purchase of material.
Assumptions:
I. The Company X will be watching the quality of performance of its suppliers.
II. This time the firms should keep the percentage of default as less as possible.
III. The Company X expects quality and professional approach from its suppliers.

Q. Vendors should be approved by Management before purchase department executes an order. If this is not done, then which of the following situations may arise?

Q. Statement : Sealed tenders are invited from competent contractors experienced in executing construction jobs.
Conclusions : I. Tenders are invited only from experienced contractors.

II. It is difficult to find competent tenderers in construction jobs.

Gracie runs a large factory, manufacturing steel appliances. The whole organisation is divided into major functions like production, marketing, finance and purchase, which may be grouped into different departments. All the activities related to purchases are grouped under purchase department like purchase of raw materials, records of purchase of inputs and tools, etc. Similarly, activities related to marketing include sales department and advertising department are grouped in the factory.

(i) What types of structure is followed by Gracie?

(ii) State any two advantages of this structure.

(iii) What are the prerequisites or features or requirements for this type of organisational structure to work?

Q. In the given question, some statements are followed by conclusions I and II. Consider both the statements and decide which of the given conclusions can definitely be drawn from the given statements.

Statement: Sealed tenders are invited from component contractors experienced in executing construction jobs.
Conclusions:
I. Tenders are invited only from experienced contractors.
II. It is difficult to find competent tenderers in construction jobs.

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