1:17 AM
Request for Quotation
Request
for Quotation (RFQ) is raised to request pricing from one or more vendor. Upon
receiving of vendor responses, quotes/ prices are updated in the quotation
record for evaluation and selection.
A
standardized printout is proposed to be used in MyCompany for all
requests made to supplier.
When
quotations are received, the prices and rates will be maintained in the system.
These pricing conditions can be saved as info record conditions while
maintaining the quotations. A customized price comparison list will be
developed which will reflect the last price the material was procured from the
particular vendor. A printout of the price comparison report will be taken and
after getting manual approvals from the concerned level of authorities, the
best-quoted price would be selected.
Case 1: Material is
procured for the first time
If
the material is being procured for the first time or an inquiry is required,
RFQs (number range 6000000000 – 6999999999) will be created in the system and
floated to various vendors. Request for Quotation (RFQ) is raised to request
pricing from one or more vendor. Upon receiving of vendor responses, quotes/
prices are updated in the quotation record for evaluation and selection.
When
quotations are received, the prices and rates will be maintained in the system.
These pricing conditions can be saved as info record conditions while
maintaining the quotations. The procurement manager will run the price
comparison list, and select the best-quoted price based on price and quality.
The
prices and terms of delivery from certain quotations will also be stored as in
the system for future analysis and reference.
Case 2: Material is
procured previously (Repeat Order)
If
the material has been purchased previously, rates in the purchase order will be
picked directly from the info record created for the specific material and vendor.
The purchase order is created with reference to the purchase requisition.
No comments
Post a Comment