Request for Quotation
Definition
A request for quotation (RFQ) is an invitation extended to a vendor by a purchasing organization to submit a quotation (bid) for the supply of materials or performance of services.
Structure
An RFQ consists of the RFQ header and the items.
Contains general information on the RFQ, such as the vendor’s address
Contain the total quantities and delivery dates for the materials or services specified in the RFQ.
An item of a quotation may contain a delivery schedule made up of a number of schedule lines in which the total quantity is broken down into smaller quantities to be delivered on the specified dates over a certain period.
An item of the procurement type "external service" contains a set of service specifications. The latter can be hierarchically structured. The summary view of such a hierarchical structure is referred to as an outline. The outline comprises a number of levels, each representing a level of the service hierarchy. The RFQ quantities are set out in service lines, representing individual jobs or activities.
In contrast to other purchasing documents, you cannot enter an account assignment in an RFQ.