Request for Quotation
A Request for Quotation is a document that an organization sends to one or more suppliers asking a quotation for items.
To access Request for Quotation, open the “Buying” workspace and, under “Reports & Masters” > “Buying“, click on “Request for Quotation”.
1. Prerequisites
Before creating and using a Request for Quotation, it is advised that you create the following first:
2. How to create a Request For Quotation
- Navigate to the “Request For Quotation” list and select “+ Add Request for Quotation”.
- Specify the “Required Date” indicating when the requested materials are needed.
- List potential suppliers in the “Suppliers” section. Optionally, provide a “Contact” and “Email ID” for later use in sending the Request For Quotation via email and granting access to the supplier portal.
- In the following table, input the required items along with their respective units of measure (UOM), quantities, and the target warehouse.
- If item stock management is not activated, the “Warehouse” field can remain empty.
- If you intend to send the Request for Quotation to suppliers via email, you can create an Email Template and select it for use here.
- You can check how the email will look for a specific supplier by using the “Preview Email” button.
- If you want to send further attachments to your suppliers, you can enable the checkbox
Send Attached Files. This will add each file attached to the Request for Quotation as an attachment to each supplier email. - Once you’re done, save the Request for Quotation as a draft.
- When you’re ready, you can submit the Request for Quotation. This will trigger an email to each supplier that has Send Email enabled.
A Request for Quotation (RFQ) can also be created from a submitted Material Request. Once an RFQ is created, you can print and send suppliers the PDF which will have all the details you entered relevant to the RFQ.
3. Features
3.1 Get items from
The items listed in the items table can be retrieved from various documents, including Material Request, Opportunity, and Possible Supplier.
- Material Request: Items will be sourced from a submitted Material Request that you designate. You can search for a Material Request by entering relevant keywords, and a date range can also be specified to filter the results.
- Opportunity: Items will be obtained from a saved Opportunity. Similarly, you can specify a date range for this selection.
- Possible Supplier: Choose a potential supplier. If there are any submitted Material Requests associated with this supplier, items can be fetched from those requests.
3.2 Get Suppliers
Rather than manually inputting suppliers into the table, you can also retrieve them using the “Get Suppliers” button. When you select “Tools > Get Suppliers,” you’ll encounter the option “Get Suppliers By.” There are two methods for fetching suppliers: By Tag or By Group.
- By tag: Go to the ‘Tag Category’ by searching from the search bar. Ensure you’ve previously created tags here and assigned them to a Supplier in the Buying module. Then, opt for ‘By Tag’. Clicking on ‘Add All Suppliers’ will retrieve suppliers with matching tags.
- By Group: Choose ‘Supplier Group’ and designate the supplier group from which suppliers should be included. For instance, selecting ‘Hardware’ will add all your hardware suppliers, enabling you to obtain quotes from each of them.
In the Supplier table, on expanding a row with the inverted triangle, you’ll see an option ‘Download PDF’ which will open a PDF of the RFQ.
3.3 Link to Material Requests:
Upon selecting ‘Tools > Link to Material Requests‘, the Request for Quotation is associated with available Material Requests, provided that the items match between the Request for Quotation and the Material Request.
Once the Request for Quotation is saved, the Dashboard reflects its linkage to the Material Request. If multiple Material Requests contain identical items, the link will be established with the most recent Material Request.
3.5 Terms and Conditions
In sales or purchase transactions, specific terms and conditions may dictate how the supplier delivers goods or services to the customer. These terms and conditions can be applied to transactions and will be displayed when printing the document. To know about Terms and Conditions, click here
3.6 Print Settings
Letterhead
You can print your request for quotation/purchase order on your company’s letterhead. Know more here.
Group same items’ function will consolidate identical items listed multiple times in the items table. This consolidation will be reflected when the document is printed.
Print Headings
Titles of your documents can be changed. Know more here.
Special properties
When generating a PDF for a RFQ using the ‘Tools > Download PDF’ option, you will be prompted to choose the specific supplier you wish to address.
The information associated with the first supplier will be utilized by default when generating the standard print preview. If you intend to generate the PDF for a different supplier, please utilize the ‘Tools > Download PDF‘ option.
4. Creating a Supplier Quotation after RFQ
After creating the Request for Quotation, there are two methods to generate a Supplier Quotation from it.
4.1 Supplier Quotation by User
- Open the Request for Quotation and select ‘Supplier Quotation‘ then ‘Create‘.
- Choose the supplier and click on it again. On this page, click the ‘+’ icon next to ‘Supplier Quotation’. A new Supplier Quotation page will open, where the user needs to enter the quantity, rate, and then submit it.
4.2 Supplier Quotation from Supplier
- If a Contact is established for the Supplier and an associated email address is available within the Contact details, this information will be retrieved upon selecting the Supplier. If such Contact details and email address are not already set up, they should be created.
- Navigate to ‘Tools’ and select ‘Send Emails to Suppliers’.
- If the Supplier’s account does not exist: The system will generate the Supplier’s account and send the necessary details to the Supplier. Upon receiving the email, the Supplier must click on the provided link (Password Update) to update their password. After completing the password update, the Supplier gains access to their portal using the ‘Request for Quotation’ form, and they will be registered as a Website User.
- If the Supplier’s account already exists: The system will forward a Request for Quotation link directly to the Supplier. The Supplier must log in using their credentials to access the Request for Quotation form via the portal.Upon accessing the form, the Supplier will encounter the following screen, where they can proceed to submit a quotation:The Supplier is required to input the amount and notes, such as payment terms, into the form and then click on ‘Submit’. Previous quotations will be visible in the Quotations section.
- Upon submission, BizCentric will generate a Supplier Quotation in draft mode associated with the Supplier. The user must review the Supplier Quotation and finalize it by submitting. Once all items from the Request for Quotation have been quoted by a Supplier, the quote status in the ‘Suppliers’ table of the Request for Quotation will be updated to ‘Received.
Read Supplier Quotation to know more.