Request for Quotation (RFQ)

A Request for Quotation (RFQ) is a standard business process that invites suppliers to bid on specific products or services. Organizations use RFQs to solicit competitive pricing and terms from multiple vendors.

An effective RFQ typically includes:

• Detailed specifications of required items or services
• Quantity needed and quality standards
• Delivery requirements and timeline
• Payment terms
• Evaluation criteria for selecting suppliers
• Response deadline and submission instructions

AuraVMS supports the focused RFQ workflow: creation, distribution to selected suppliers, structured response collection, side-by-side comparison, and order placement. Consistent response fields make commercial inputs easier to review, while the buyer remains responsible for the final evaluation.