Purchase Quotation - An overview

Purchase Quotation – An overview

Introduction

Purchase Quotation component facilitates the process of procurement through the enquiry process. This includes the creation and subsequent processing of the Request for Quotation and Quotation documents.

Feature Highlights

Provision to maintain a Request for Quotation and send it to a desired set of suppliers. Support for changing the RFQ details for a specific supplier(s).
Support for competitive bidding, in which case all suppliers are provided with the same set of details to respond with a quotation.
Provision to record a quotation with or without the reference to a RFQ.
Facility to approve or reject received quotations thereby controlling the conversion of the quote into an ordering document.

List of Activities

Go to Activity…	For…
Create Request for Quotation	Generating a Request for Quotation document.
Edit Request for Quotation	Modifying the details in a given RFQ, if necessary.
View Request for Quotation	Viewing the details of a RFQ document, without a provision for modification.
Create Quotation	Registering a Quotation document received from a supplier.
Edit Quotation	Modifying the details in a given Quotation, if necessary.
Approve Quotation	Authorizing a quotation so that it can be converted into an order. It can also be rejected.
View Quotation	Viewing the details of a Quotation document, without a provision for modification.