The quotation contains the history of the discussion/negotiation you had with your supplier. Once confirmed, a request for quotation is converted into a purchase order.
Go to Purchases-> Purchase -> Requests for Quotation ->
- Supplier Reference
- Reference of the Sales Order or bid send by the supplier
- Order Date
- Depicts the date where the quotation should be validated and converted into a Purchase Order. By default, it's the creation date.
- Add the product to send for RFQ.
- Schedule Date is the expected date to receive the product.
- Unit Price is take from the product Cost Price. This is used as a guide for expected cost. The supplier may reply your RFQ with a revised pricing. Cost Price is not send to customer during RFQ.
Once a quotation is received from the supplier, you must update the actual value into Unit Price before confirming the RFQ.
RFQ & Bid
- Incoterms® are a set of rules which define the responsibilities of sellers and buyers for the delivery of goods under sales contracts. They are published by the International Chamber of Commerce (ICC) and are widely used in commercial transactions.
- Bid Received On
- Bid Valid Until
- Expected Date
- Expected date for delivery of the products
- Invoice Received
- Indicate if the supplier invoice is received for this RFQ.
- Call for Bids
- Payment Term
- Validated by
- Date Approved
To save the information, Click on .
From Draft PO, you can Send RFQ by Email directly or Print out the RFQ.
Once the RFQ is confirmed, you can update the Unit Price under the product list and confirm the order.
Once the RFQ is confirmed, it will be converted to PO directly.
At the same time, the warehouse module will be notified of the incoming products, the accounting module will be be notified for payment to supplier.
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