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What is meant by quotation and quotation analysis?

What is meant by quotation and quotation analysis?..

Answer / kranthioracle

quotation = is a statement consisting of current price of
the commodity which the supplier will be sending to the
organisation, when we place RFQ

quotation analysis = after getting the quotation from
different suppliers we select the best quotation , the
process of selecting the best is know as quotation analysis.

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