RFQ and Quotation (MM-PUR-RFQ) 

Purpose

You use this component if you wish to manage and compare requests for quotation (RFQs) issued to vendors and the quotations submitted by the latter in response to them.

Features

In Purchasing, the RFQ and the quotation form a single document. Prices and conditions quoted by vendors are entered in the original RFQ. If you have issued an RFQ to several vendors, you can have the system determine the most favorable quotation submitted and automatically generate letters of rejection to the unsuccessful bidders. You can also store the prices and terms of delivery from certain quotations in an info record for future accessing.

RFQs can be subject to a release procedure.