RFQs

A Request for Quotation (RFQ) is how you take a need to market. You invite suppliers to submit prices and terms, compare their quotes side by side, and award the winner. RFQs are created from a confirmed Sourcing Request, or directly when you already know what to buy.

As the buyer or requestor, you create and send the RFQ, then manage it while it is open: edit the closing date, add attachments, or remind suppliers who have not yet quoted. Once quotes are in, you evaluate them, pick the winning bid, and submit for approval. An approver either approves the award (which creates a Purchase Order) or returns it to you for amendment. For a live, competitive alternative, run an Auction instead.

flowchart LR
    A[Create RFQ] --> B[Review and send]
    B --> C[Suppliers quote]
    C --> D[Evaluate quotes]
    D --> E[Approver reviews]
    E -->|Returned| D
    E -->|Approved| F[Purchase Order]

Guides

• Create an RFQ: Invite suppliers to submit prices and terms for a procurement need.
• Review & Send RFQ: Review an RFQ and invite suppliers to submit their quotes.
• Edit RFQ Details: Change the bid closing date or add attachments to a posted RFQ.
• Remind a Supplier: Remind a supplier who has not yet submitted their quotation.
• Evaluate an RFQ: Compare quotations, pick the winning bid, and submit for approval.
• Amend RFQ Evaluation: Update and resubmit an evaluation an approver returned to you.
• Review RFQ Evaluation: Review a requester's evaluation and approve or return it.
• Reassign People on an RFQ: Reassign the requestor, buyer, or approver on an RFQ.