You issue a request for quote when you want to buy an item that can be supplied by more than one vendor. You create the request for quote, select the vendors that you want to reply to the request for quote, and send the request for quote to the vendors. The request for quote states the required response time (expiry date).

You can create requests for quotes manually, or you can issue requests for quotes from planned purchase orders and from purchase requisitions.

You can create two types of requests for quotes: Purchase orderand Blanket order. If the request for quote is created from a purchase requisition, the type Purchase Requisitionis automatically assigned to the request for quote.

For requests for quotes with the type of Purchase order, inventory transactions with the receipt status Quotation receiptare created when request for quote lines are created. If you change the type from purchase order to blanket order, all inventory transactions for the request for quote lines are deleted. If you change the type from blanket order to purchase order, the inventory transactions for the request for quote lines are created.

For more information, see:

Create and send requests for quotes

Create requests for quotes from planned purchase orders

Create a request for quote from a purchase requisition

After a period of time, you receive vendor replies to the request for quote. The next step is to enter the reply information from each vendor on the vendor-specific request for quote. The original request for quote information is kept, and you add the new vendor information parallel to the original information. This way, you can easily compare what you requested and the replies from each vendor.

You can set up the system to receive a notification by using alerts when the request for quote expiry date is reached so that you can follow up on the requests for quotes to see if you have received replies from all vendors. You can also compare the vendor replies by ranking the replies according to criteria, such as best total price and best total delivery time.

For more information, see:

Receive and register request for quote replies

Follow up on requests for quotes

Compare request for quote replies

About alerts

When you have identified the best request for quote reply, for example, the one that offers the best total price, you accept the reply and the status of the vendor-specific request for quote reply is updated to Accepted. When you accept the reply, a purchase order is created automatically, and you can reject replies from the other vendors.

For more information, see:

Accept, reject, and return request for quote replies

About request for quote statuses

Master Planning can include request for quote lines that have inventory transactions with the status Quotation receiptwhen calculating supplies. If there are no inventory transactions for a request for quote line, Master Planning does not consider the request for quote line as a supply.

Before you can create requests for quotes, you must set up request for quote information in your system.

For more information, see Set up requests for quotes.