Procuring Third-Party Services

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When a company needs to procure third-party services, it will usually release a document that outlines its requirements and solicits proposals from potential service providers. The type of document that the company will release depends on the stage of the procurement process, and the specific needs and objectives of the company.

In this case, the company has determined that it does not have the in-house capability to perform a project, which suggests that the company has identified a specific project that it wants to undertake, and is looking for a third-party service provider to perform that project. Based on this scenario, the company is likely to release a Request for Proposal (RFP) document as its first step in the procurement process.

An RFP is a formal document that outlines the company's project requirements, objectives, scope, timeline, budget, and evaluation criteria, and solicits proposals from potential service providers. An RFP is typically used when the company has a well-defined project and specific requirements, and is looking for vendors to propose solutions and pricing based on those requirements.

An RFI (Request for Information) is a preliminary document that is used to gather information about potential vendors and their capabilities before issuing an RFP. An RFQ (Request for Quote) is used when the company has a well-defined project and is looking for vendors to provide pricing based on the company's specific requirements. An RFO (Request for Offer) is similar to an RFP but is used for less complex procurements.

Therefore, based on the given scenario, the company will most likely release an RFP as its first step in the procurement process.