Request for Quote (RFQ) expedites the purchasing process by creating and submitting an RFQ to multiple prospective and existing SYSPRO suppliers, recording and tracking bids, and ultimately initiating a Blanket Purchase Order, Requisition, or standard Purchase Order from the successful bid.
The Request for Quote module is designed for companies that work with multiple suppliers of raw materials, sub-assemblies, or goods for resale. Request for Quote accelerates the purchasing process by allowing companies to submit a single request to multiple prospective and existing SYSPRO suppliers for bids. The request for quotes may be submitted by standard mail, fax, or email to theselected suppliers. The returned bids are captured into the RFQ module and reviewed. On approval, the accepted bids are converted into Blanket Purchase Order contracts, standard Purchase Orders, or Requisitions, which are then maintained in the Purchase Order module.
The RFQ module allows for informed purchasing decision-making. All RFQs are archived along with the bids received; improving visibility and controls over a company’s purchasing expenditures.
The Benefits of Request for Quote
Single entry point for multiple submissions
Submit to SYSPRO and non-SYSPRO suppliers
Generate RFQ for contracts about to expire
Capture all bids against RFQ
Review purchase history of item
Review all bids on a single screen
Review bid history by supplier or stock code
Obtain best prices and delivery options
Easy bid-approval process
Retain history of all bids per RFQ
Initiate contract from approved bid
Full query function with drill-down to detail lines, bids, and submitted suppliers
Request for Quote Features
Proactively generate RFQs to replace current contracts
View existing contract and P/O history from RFQ
View detailed inventory query from RFQ
Inventory stock code standard narrations are available for use in RFQ
Easily submit to multiple prospective and existing suppliers
Choose to submit via:
Make informed decisions for new purchasing sources