About RFQs

A Request for Quote (RFQ) is a request from a vendor to quote prices for purchasing items. For each RFQ, you can record lead time, quote quantities, and price breaks. You can associate a RFQ with a requisition line item, which can be cross-referenced within the product.

After the RFQ is created, send the vendor the information about what items and quantities need to be quoted. You can distribute this information in multiple ways. Choices include email, fax, web, and print. The method is set using the Distribution Method field on the RFQ Vendors form.

After the RFQ has been distributed, the vendors respond with quotations that include lead time, pricing, and price break by quantity information. Add this data to the RFQ line item for comparison with other vendor responses.

After all the vendor quotations have been received for an individual RFQ line item, select a winning vendor to fill the request. Remember that a different vendor may be selected for each line item of the RFQ. You will need to repeat this process according to how many lines the RFQ contains.