The Request for Proposal (RFP) and Request for Quotation (RFQ) process is an official business process used to solicit proposals from vendors for goods and services. The process is used to compare bids from different vendors and select the most suitable vendor to fulfill the requirements of the organization. The RFP and RFQ process is typically used when a company needs to purchase a large number of goods or services and wants to ensure that they are getting the best value for their money. The process begins with the organization issuing a request for proposal or request for quotation to vendors. The vendors then submit their bids, which are then evaluated and compared by the organization. The organization then selects the most suitable vendor to fulfill the requirements of the organization. The RFP and RFQ process is an important part of the procurement process and helps organizations to make informed decisions when purchasing goods and services.