Vendor RFQ

Request For Quotation

System Location: Data Entry > Purchasing > Request For Quotation

A request for quotation, or RFQ, is used to get updated cost information for parts and services in advance of the creation of a purchase order. RFQs can be created from any of the following sources:

• Part File - Updates costs for selected inventory items; does not update items already assigned as job requirements
• Job Requirement (Material) - Updates costs for selected material requirements; does not update inventory items
• Order (Outside Service) - Updates costs of vendor step on selected jobs; does not update cost on estimate
• Estimate (Outside Service) - Updates costs of vendor steps on selected estimates; does not update costs on processed jobs

RFQs created for parts, material requirements, and service steps on jobs can be used as the source for purchase orders.

Where to Start

Before you start creating RFQs, it's important to make sure you have defined all the tables you need and that you understand how the system will behave based on the related company preferences and other settings.

Tables Used on Purchase Orders

• Currency Code
• Employee Code
• Product Code
• Shipping Code
• Tax Code
• Terms Code
• Vendor Code
• Vendor Type

Preferences and Other Related Settings

There are no preferences or related settings that affect the creation of a RFQ.

RFQ Details

Every RFQ has information regarding the vendor, items to quote, and shipping related details. The following links lead to topics that provide reference information for each section of the RFQ record.

Go to RFQ Details - General Section

Go to RFQ Details - Line Items Section

Go to RFQ Details - Header Section

Go to RFQ Details - Addresses Section

Go to RFQ Details - Comments Section

Go to RFQ Details - User Defined Section

Creating and Editing RFQs

Options for Creating RFQs

Follow the link below for step by step instructions for making a RFQs:

• Continue to Create A Vendor Request For Quotation

Once the RFQ is Created

When your vendor sends back a quote, you can input that information onto the RFQ. Open the RFQ, go into the details area of the line items, and enter the quantities and prices provided by your vendor. You can also add additional line items to the RFQ, but you may have to resubmit the record to your vendor if they are unaware that you want quotes for additional materials.

Reports, Forms, and Labels

Reports

The following summary report is available for review / generation under the Purchasing Reports dropdown menu:

• RFQ Summary

Forms and Labels

The following reports / forms / labels are available under the Print dropdown menu located in the RFQ Navigator:

• Request For Quotation
  • Vendor RFQs can have electronic signatures attached. For more information see Attach Electronic Signatures.

What Comes Next

There are multiple steps that may follow the submission of a RFQ:

• Copy Utility
  • The copy utility, found on the RFQ navigation screen, provides the ability to create a new RFQ using the details of the selected RFQ. Therefore, you can request quotes from multiple vendors for the same materials without having to make all of the RFQs from scratch.
• Vendor Cost Analysis
  • Once you've received quotes from multiple vendors regarding the same materials, you can compare your options through the vendor cost analysis.
  • For more information see Vendor Cost Analysis.
• Purchase Order
  • If you found the prices on the quote to be fair, you can use the RFQ to create a purchase order.
  • For more information see Purchase Orders.