RFQ Workflow
An RFQ workflow is the sequence used to move a defined purchasing requirement through supplier invitation, quotation receipt, commercial comparison, and award or order placement.
Typical RFQ workflow
- Define items, quantities, specifications, and dates.
- Select suitable suppliers.
- Issue the RFQ with consistent response instructions.
- Track and collect private supplier quotations.
- Compare price and commercial terms.
- Record the supplier decision and place the order.
Approvals, ERP triggers, and organization-specific controls may sit around this core flow and can require integration or custom configuration.
Related Terms
Request for Quotation (RFQ)
A Request for Quotation (RFQ) is a standard business process that invites suppli...
Learn moreAutomated RFQ Process
Automated RFQ Process refers to the digitalization and automation of the Request...
Learn moreQuotation Collection
Quotation collection is the controlled process of requesting, receiving, and org...
Learn moreRelated Resources
Supplier Quotation Collection
See how private, structured supplier responses move into comparison.
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