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RFQ Report

📄 RFQ (Request for Quotation) Report​

The RFQ Report provides a consolidated view of all Requests for Quotation sent to vendors, allowing procurement teams to track, compare, and evaluate supplier quotations before making purchase decisions.

It helps purchasing departments manage the vendor selection process, ensure competitive pricing, and maintain a transparent audit trail for procurement activities.

🎯 Purpose of the Report​

  • Track all RFQs issued to suppliers within a given time frame.

  • Compare vendor responses in terms of price, delivery time, and terms.

  • Monitor pending RFQs that need follow-up.

  • Maintain a history of procurement inquiries for audit and compliance.

  • Support decision-making for purchase order creation.

📌 Key Data Fields​

FieldDescription
RFQ NumberUnique identifier for the RFQ document.
RFQ DateDate the RFQ was issued.
Vendor NameSupplier to whom the RFQ was sent.
Contact PersonVendor contact for follow-up.
Item Code / NameProducts or services requested.
Quantity RequestedRequired quantity in specified UOM.
Quoted PriceVendor's price per unit.
CurrencyCurrency used for the quotation.
Delivery Lead TimeVendor’s promised delivery time.
StatusOpen, Quotation Received, Shortlisted, Rejected, Converted to PO.
Comparison Score (if applicable)Evaluation score based on price, quality, and lead time.
Remarks / NotesInternal comments or vendor-specific notes.

🔍 Filter & Search Options​

  • RFQ date range.

  • Vendor name.

  • Status (Open, Received, Closed, Cancelled).

  • Item code / category.

  • Currency.

  • Delivery time range.

📊 Insights Provided​

  • Number of RFQs sent vs. responses received.

  • Price comparison for the same product across vendors.

  • Pending RFQs that need supplier follow-up.

  • Supplier performance trends (e.g., response speed, pricing competitiveness).

  • Procurement cycle efficiency.

📤 Export & Integration​

  • Export to Excel, CSV, or PDF.

  • Linked to Purchase Orders for tracking RFQ-to-PO conversion.

  • Integrated with Vendor Management and Product Pricing modules.

✅ Benefits​

  • Ensures procurement is based on competitive pricing and quality assessment.

  • Improves vendor negotiation leverage by having clear price comparisons.

  • Reduces procurement cycle time through better tracking.

  • Maintains an audit trail for compliance and transparency.

📈 Example Layout​

RFQ No.RFQ DateVendor NameItem CodeItem NameQtyUOMQuoted PriceCurrencyLead Time (Days)StatusRemarks
RFQ-10201-08-2025ABC SuppliesITM-001Printer Cartridge50Nos25.00USD5Quotation ReceivedCompetitive pricing
RFQ-10303-08-2025XYZ TradersITM-009Steel Rod 10mm200Kg1.20USD12OpenAwaiting vendor reply