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Administrator Guide
Last Updated: 2023-06-23
Steps: Process Request for Quotes

Steps: Process Request for Quotes

  • Set up request for quotes (RFQ).
  • Security domains in the Procurement functional area:
    • Process: Request for Quotes - Cancel
    • Process: Request for Quotes - Close
    • Process: Request for Quotes - Create/Edit
    • Process: Request for Quotes - Post
    • Process: Request for Quotes - Reporting
    • Process: Request for Quotes - View
Support a simple RFQ process for the procurement of standardized goods and services. This process enables you to:
  • Create an ad hoc RFQ or an RFQ from existing procurement business documents such as requisitions, purchase orders, or supplier contracts.
  • View and capture RFQ responses from suppliers and streamline the award process.
  2. (Optional) Select
    Request for Quote
    Printable Version
     from the related actions menu on the
    Find Request for Quotes (RFQ)
     report. You can create a printable version of an RFQ in
    Approved
     or
    Posted
     status.
  3. Review and approve RFQ responses from the supplier. You can record RFQ responses on behalf of the supplier.
  4. Once you submit the RFQ and it's approved, open the RFQ for bidding. Select
    Request for Quote
    Post Request for Quote
     from the related actions menu of the RFQ.
  5. (Optional) Analyze RFQ bid responses in a side-by-side layout, by accessing
    Request for Quote
    Compare RFQ Responses
     from the related actions menu of the RFQ.
  • View the RFQ details, including information on RFQ responses and awards.
  • Modify, cancel, or copy the RFQ.