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Request For Quotation Reply

What is Request For Quotation Reply in Businessflo​

In Businessflo, a Request for Quotation (RFQ) Reply refers to the response provided by vendors or suppliers to an RFQ. When a company sends out an RFQ, vendors are invited to submit their quotations or bids in response to the requested goods or services.

The RFQ Reply includes detailed information from the vendor, such as the quoted prices, terms and conditions, delivery timelines, and any additional relevant information. It serves as a formal document that allows the company to evaluate and compare the quotations received from different vendors.

By reviewing the RFQ Replies, the company can assess the competitive offerings, negotiate pricing and terms, and ultimately make an informed decision regarding the procurement of goods or services from the vendor that best meets their requirements.

How to Create a Request For Quotation Reply in Businessflo​

  • Module: PS - Procurement Sourcing
  • Process Code: PSRR - Request For Quotation Reply

There are two options available to navigate to this screen.

  • Click on Procurement Sourcing -> Purchase -> Request For Quotation Reply
  • Write the process code for this screen in the search bar which will navigate you here directly.

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The list displays the existing Request For Quotation replies generated in the system. You have the option to either create a new Request For Quotation Reply by clicking the "New" button or select from the list of available Request For Quotation replies to view, edit, or delete them.

Process​

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  • Quotation Reply :- Quotation Reply will automatically be generated by the system.
  • Vendor :- When selecting a Vendor in Businessflo, the system automatically filters the available Quotation numbers based on the chosen Vendor. This feature simplifies the quotation selection process by narrowing down the options to only those relevant to the selected Vendor. It ensures that you can quickly and accurately identify the applicable Quotation numbers associated with the specific Vendor.
  • When selecting a Purchase Quotation in Businessflo, the system automatically filters the available vendors based on the chosen Purchase Quotation. This feature simplifies the vendor selection process by narrowing down the options to only those associated with the selected Purchase Quotation.

After filling the header fields, click on Create.

Basic Data Tab​

In the Basic Data tab of Businessflo, there are two sections. On one side, you have the Quotation Information section, which is automatically populated based on the Purchase Quotation and cannot be changed. It provides essential details related to the initial quotation.

On the other side, you have the Vendor Reply part, where you can enter the information based on the vendor's reply. This section allows you to input and update details provided by the Vendor., such as delivery terms, or any other relevant information. It enables you to capture and record the vendor's response accurately, facilitating effective communication and negotiation during the procurement process.

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Price Offer Tab​

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Purchase Tab​

In the purchase tab of Businessflo, you have the option to select items/goods, services, and fixed assets for procurement. Additionally, you can specify the quantity required and the desired delivery date. This feature allows you to accurately indicate the items or services needed and when they should be delivered, facilitating a smooth procurement process and ensuring timely fulfillment of requirements.

Now click on Save to save the information provided.