Skin ADV

Supply Chain Glossary

Glossary  >  R  >  Request for Quotation  


 

Request for Quotation


Source: Procurement Glossary
Author: Paul Rogers
Institute: CIPS - UK

Courtesy of


 

A Request for Quotation [RFQ] is a market enquiry prepared by the buyer and issued to prospective suppliers, typically for lower value or simple acquisitions. The purpose is to invite commercial offers from a number of suppliers in order to secure competition, and to gather information about the supplier’s solutions, their lead time, service support and other dimensions of their value proposition.  The selection of a Request for Quotation as opposed to a Request for Tender usually reflects the fact that the value of the proposed acquisition is lower, and a less formal approach is required.  For example, the offers may be submitted on the supplier’s own stationery, rather than conform to the buyer’s requirements, and the closing time and date for receipt of offers may be less critical.  Requests for Quotation may be issued competitively or non-competitively, depending on the buyer’s governance regime, though many governance regimes require a minimum of three quotations.  The key requirements of the RFQ are to ensure that the supplier’s response states their price, delivery or performance timescale, the nature of their value proposition or offer and the period of validity of their offer.  This allows the evaluator to select the most appropriate response and adopt a simple and streamlined approach to the acquisition.  See also Battle of the Forms, Evaluation, Tender, Invitation to Treat and RFx

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 




Job Opportunities
 
Senior Inventory Analyst
     
     Hopkinton  -  PERM  -  Michael Page

Transportation and Logistics Manager, Philips Healthcare, (Lockbourne, OH.)
     
     Lockbourne, Ohio  -  PERM  -  Philips

Electrical Engineer - Procurement
     
     Bothell, Washington  -  PERM  -  Philips

Contract Manufacturing Technician (multiple positions in Upstream, Downstream & Production Services)
     
     California - Oceanside  -  PERM  -  Roche

Senior Analyst of Planning - Manufacturing
     
     Texas  -  PERM  -  Michael Page

IT Procurement and Vendor Manager - HW/SW/Telecoms/Consulting - Deerfield
     
     Deerfield  -  PERM  -  Michael Page

Purchasing Manager
     
     Grand Rapids  -  PERM  -  Michael Page

Procurement Manager Bay Area, CA
     
     Bay Area, CA  -  PERM  -  Teldar Group

Procurement Director Bay Area, CA
     
     Bay Area, CA  -  PERM  -  Teldar Group

Sourcing Manager North Carolina
     
     North Carolina  -  PERM  -  Teldar Group

Senior Buyer San Francisco, CA
     
     San Francisco, CA  -  PERM  -  Teldar Group

Sourcing Manager Travel FL or TX
     
     FL or TX  -  PERM  -  Teldar Group

Supply Chain Manager Chicago, IL
     
     Chicago, IL  -  PERM  -  Teldar Group

Senior Sourcing Manager FL or TX
     
     FL or TX  -  PERM  -  Teldar Group

Sourcing Manager Fl or Tx
     
     Fl or Tx  -  PERM  -  Teldar Group

 

Supply chain E-learning



Explore available supply chain e-learning modules by language and academy



News & Trends
 

Last update 10 Sep 2021
Marked improvement in operating conditions amid strong demand conditions
   Source: Markit US Manufacturing PMI   -  IHS Markit
United States 


Retail

The retail sector is always on the move. Whether this involves shopping centres, shops in inner city locations or at airports – trends change very quickly and the goods change just as rapidly too. To keep up with these developments, highly complex and process driven supply chains are needed. With our...

Leveraging Demand and Supply Planning to Unlock the Value of MRP

Both demand and supply planning and materials requirement planning (MRP) have been around for a long time. It’s hard to imagine a modern manufacturing company without either one. With a robust MRP system, manufa...


Education
 

Resources
 
Erema: Gaining a competitive edge through preferential exports

Erema, an Austrian manufacturer of recycling systems, uses AEB software to accelerate the proper classification of its components, manage supplier’s declarations, and ensure compliance in its exports. Erema ship...

Understanding risk in pharmaceutical supply chains

Risk in pharmaceuticals is often associated with drug shortages: events that prevent patients getting the right medicines at the right time. In traditional supply chains, supply risk is typically managed through incre...


International Agenda