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User Guides

Quotes

Learn how to effectively manage and track Request for Quotations (RFQs) to optimize your procurement process and supplier relationships.

Summary​

The Quotes feature transforms how organizations handle price quotations from suppliers. This comprehensive tool enables buyers to efficiently request quotes for products not currently available in the store, while providing procurement teams with complete oversight of quotation activities. Through centralized management, organizations can implement consistent pricing practices and build stronger supplier relationships.

Key Benefits​

Transform your quote management with:

  • Centralized Control: Unified quote handling and tracking
  • Process Standardization: Consistent request procedures
  • Complete Visibility: Comprehensive activity monitoring
  • Enhanced Communication: Streamlined supplier interaction
  • Efficient Comparison: Structured quote evaluation

Understanding Quote Management​

Quote Lifecycle​

Master the complete quote process:

  1. Creation: Strategic initiation of quote requests
  2. Distribution: Targeted supplier engagement
  3. Response: Structured quote collection
  4. Evaluation: Systematic review process
  5. Award: Merit-based selection
  6. Closure: Proper process completion

Quote Statuses​

Clear status tracking through three key states:

  • Open: Active requests accepting quotes
  • Awarded: Successfully completed RFQs
  • Ended: Expired without award

Viewing All Quotes​

Access your quote dashboard through multiple paths:

  • Direct Navigation: Products → Quotes
  • Quick Search: Global search bar access
Quotes in the navigation menu
Searching for Quotes

Quote Search and Filtering​

Powerful search capabilities enhance quote management:

  1. Name Search Precise identification:

    • Quick quote location
    • Specific request finding
    • Historical search

  2. Status Filter Efficient workflow management:

    • Track active quotes
    • Monitor awarded requests
    • Review closed RFQs

  3. Requestor Filter Team oversight:

    • Individual tracking
    • Department monitoring
    • Activity review
Searching quotes by name
Viewing status filter options
TIP

Optimize your workflow by using status filters to identify priority quotes, especially those approaching deadlines.

Filtering by approved
Filtering by requestor

Detailed Quote Analysis​

Accessing Quote Details​

Comprehensive information access:

  • Real-time status updates
  • Complete specifications
  • Response tracking
  • Decision records

Quote Information Components​

Four key information areas provide complete oversight:

  1. Status Information Process tracking:

    • Current state monitoring
    • Timeline management
    • Stage progression
    • Deadline tracking

  2. Request Details Essential information:

    • Clear identification
    • Requestor tracking
    • Time requirements
    • Special conditions

  3. Item Specifications Product requirements:

    • Detailed descriptions
    • Quantity specifications
    • Technical details
    • Supporting documents

  4. Supplier Responses Response management:

    • Quote collection
    • Price comparison
    • Terms review
    • Document handling

Currency Management​

Flexible financial handling:

  • Currency Preferences: Personalized viewing
  • Dynamic Conversion: Real-time updates
  • Multiple Currencies: Global transaction support
  • Consistent Display: Standardized presentation
RFQ details page showing the original currency/currencies
RFQ details page showing the user's preferred currency

Understanding Field Requirements​

RFQ Core Information​

Essential request details:

FieldDescriptionRequired
TitleA descriptive or identifiable title for the RFQ.👍
RequestorThe buyer that created the request for quotation.👍
Close by date & timeWhen the request for quotation will automatically end.👍
Delivered byWhen the requested items are needed by👍
UrgencyHow urgent the RFQ is (Normal, Rush or Emergency), with a greater urgency suggesting faster quotes/responses may be awarded sooner by the buyer👍
External IDAn optional ID that may be needed for internal usage with a different program or system.❌
Attributes (Metadata)Any additional attribute names and values that the buyer wishes to include.❌

Item Specifications​

Product requirement details:

FieldDescriptionRequired
NameThe name of the desired item.👍
CategoryThe appropriate store category for the item (initially auto-selected based on the query, but can be changed).👍
QuantityThe quantity needed.👍
Benchmark PriceA desired price per unit of quantity for guidance to suppliers (along with accompanying currency).❌
SuppliersThe suppliers that this RFQ will be sent to. Mandatory suppliers for the selected category will be pre-selected and cannot be removed.👍

Advanced Item Details​

Additional specification options:

FieldDescriptionRequired
Attributes (Metadata)Any additional item attribute names and values that the buyer wishes to include.❌
MPNManufacturer Part Number.❌
ManufacturerThe name of the manufacturer of the desired item.❌
Internal Part #An internally used part number for the desired item.❌
CommentsA message that can be read by the selected suppliers.❌

Quote Response Details​

Response requirements:

FieldDescriptionRequired
SKUA stock keeping unit code.👍
UNSPSCUnited Nations Standard Products and Services Code.👍
Internal Part #A part number used internally.❌
CurrencyThe currency of the unit price.👍
Unit PriceThe quoted price per unit of quantity.👍
Min. QuantityThe minimum quantity that must be awarded for the quote to apply.👍
Delivery DaysTime in days to deliver the item.👍

Extended Quote Information​

Supplementary details:

FieldDescriptionRequired
Attributes (Metadata)Any additional item attribute names and values that the supplier wishes to include.❌
CommentsA message that can be read by the buyer.❌
ReferenceA supplier provided reference.❌
AttachmentsUp to 10 files that can be attached for the buyer to view.❌

Risk and Compliance Considerations​

Risk Management​

Comprehensive risk control:

  • Response Monitoring: Track supplier engagement
  • Participation Analysis: Evaluate supplier activity
  • Price Monitoring: Identify market trends
  • Decision Documentation: Maintain clear records
  • Historical Tracking: Build knowledge base

Compliance Benefits​

Enhanced regulatory alignment:

  • Process Standardization: Consistent procedures
  • Documentation Trail: Complete record keeping
  • Supplier Equity: Fair treatment practices
  • Award Transparency: Clear decision making
  • Transaction Tracking: Comprehensive audit support
TIP

Maintain detailed documentation of all quote-related activities to ensure policy compliance and support future audits. Regular review of these records helps identify process improvements and risk mitigation opportunities.

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RFQ Access