Retailers usually have long-standing relationships with fixed vendors. However, in certain cases, for example high-value and special articles, it may be advisable to determine the best vendor using a request for quotation (RFQ) and quotation procedures.

RFQs can be created automatically for a number of vendors from purchase order requisitions, or can be created manually. The quotations received, including the prices and conditions for the articles concerned, are entered in the related RFQs. The RFQ and quotation therefore form a single unit.

You can use a price comparison list to compare the quotations and determine the best quotation. The data obtained in this way can be automatically saved in a purchasing info record for the vendor.