RisingERP - Request For Quotation (RFQ)

Request for Quotation (RFQ)

A Request for Quotation (RFQ) is an official document through which an organization invites one or more suppliers to provide price quotes for specified items.

To access the Request for Quotation module, navigate to the "Procurement" workspace, and under "Reports & Masters" > "Procurement," click on "Request for Quotation."

1. Prerequisites

Before creating and utilizing a Request for Quotation, it is recommended to create the following:

1. Supplier
2. Item

2. How to Create a Request For Quotation

Follow these steps:

a. Go to the Request For Quotation list and click on "+ Add Request for Quotation."

b. Enter the Required Date, indicating when you need the requested materials.

c. Populate the "Suppliers" list with potential suppliers.

1. Set a Contact and Email Id for sending the RFQ via email and granting access to the supplier portal.

d. In the items table, enter the required items along with UOM and quantity, specifying the target warehouse.

1. The Warehouse can be left blank if Maintain Stock is not enabled for the item.

e. Optionally, create an Email Template for sending the RFQ via email. Use special variables for supplier-specific data.

f. If necessary, enable the checkbox "Send Attached Files" to send additional attachments to suppliers.

g. Save the RFQ as a draft.

h. When ready, submit the RFQ, triggering an email to each supplier with Send Email enabled.

2.1 RFQ from Requisition Form

An RFQ can also be created from a submitted Requisition Form. Once created, you can print and send suppliers the PDF containing all relevant details.

3. Features

3.1 Get Items From

Items in the items table can be fetched from other documents such as Requisition Form, Opportunity, and Possible Supplier.

1. Requisition Form: Fetch items from a submitted Requisition Form.
2. Opportunity: Fetch items from a saved Opportunity.
3. Possible Supplier: Fetch items based on a selected possible supplier.

3.2 Get Suppliers

Instead of manually entering suppliers, use the 'Get Suppliers' button. Fetch suppliers based on tags or groups.

1. By Tag: Fetch suppliers based on assigned tags.
2. By Group: Fetch suppliers based on the selected supplier group.

3.3 Link to Requisition Forms

Link the RFQ to available Requisition Forms. Items should match between the RFQ and Requisition Form.

3.4 Terms and Conditions

Apply Terms and Conditions to transactions, which will appear when printing the document.

3.5 Print Settings

1. Letterhead: Print on your company's letterhead.
2. Group Same Items: Group identical items in the printed document.
3. Print Headings: Change document titles.
4. Special Properties: Use special properties for specific supplier information.

4. Creating a Supplier Quotation after RFQ

4.1 Supplier Quotation by User

Open the RFQ, click on Supplier Quotation > Create, select the Supplier, and enter quantity and rate.

4.2 Supplier Quotation from Supplier

If a Contact and email are associated with the Supplier, details will be fetched.

1. Click on Tools > Send Emails to Suppliers.
2. For new accounts, suppliers receive a password update link.
3. For existing accounts, suppliers receive a Request for Quotation link.

Upon login, suppliers can submit quotations. RERP will create a draft Supplier Quotation for review.

When all items are quoted, the RFQ status updates to 'Received' in the 'Suppliers' table.