Vendor choice is an important method in procurement cycle. once requirements are accrued we can look for possible providers who can fulfill the necessities on the best possible price. So a request is made to providers to publish their quotations indicating the price of material in conjunction with their terms and conditions. This request is called request for quotation. the key points about request for quotation are as follows:
RFQ can be created by means of following two methods:
RFQ may be created manually via following the below steps:
Path to create RFQ:
Logistics => materials management => purchasing => RFQ/quotation => Request for quotation => Create
On SAP Menu screen choose Create execute icon through following the above step.
Fill in all required details like type of RFQ (if standard then AN), language, date of RFQ, purchasing organization and group.
Provide the name of material, quantity of material, material group and quotation deadline date.
Provide the quantity and delivery date for the material.
Provide the vendor address (street number, city, country, pin code) to that you are addressing the RFQ. click on on save. a new Request for quotation will be created.
RFQ also can be created close to purchase requisition by means of following the below steps:
On the home screen of RFQ choose reference to PReq tab.
Enter the requisition number for that you need to create RFQ. click on on save. a new Request for quotation could be created with reference to purchase Requisition.
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