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What is meant by RFQ?

Answers were Sorted based on User's Feedback

What is meant by RFQ?..

Answer / suma

request for quotation. the purchase dep creating the rfq and
send to the supplier .

Is This Answer Correct ?    15 Yes 0 No

What is meant by RFQ?..

Answer / yogesh

RFQ terms is widely used in Purchasing context,it means
request for quotation . This is prepared to request
supplier to send his quotation for mentioned items and
quantities. Supplier send its quotation to buyer, which
buyer enters into application.

Is This Answer Correct ?    11 Yes 0 No

What is meant by RFQ?..

Answer / kranthioracle

there are three types of rfq

standard rfq--- one time purchase
bid rfq --- when the items are less & cost is more
ex- diamond
catalog rfq --- when the items are more & cost is less
ex- nuts ,bolts, ect

if we enable rfq at the site level we cant riase a qfq from
that site.

Is This Answer Correct ?    11 Yes 1 No

What is meant by RFQ?..

Answer / babitha.b

RFQ(Request for quotation) is an invitation to a vendor to
indicate his terms and condition (in particular his price)
for the supply of material or the provisions of a service
by submitting a quotation. As in the case of purchase
requisition,the RFQ identifies the material, quantity, and
delivery date.
3 types RFQ:
1.Standard RFQ: Created for one type of purchase item.
2.Catalog RFQ: Create for frequently order items.
3.Bid RFQ: Created for items where organization request to
deliver on a specific location,date,specific quantity.

Is This Answer Correct ?    1 Yes 0 No

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