Request for Quotation Template - RFQ

14 Apr 2017

Procurement Uses The RFQ Template for Major Bid Events

This is week two of ten procurement templates in ten weeks. To see week one - go to the sourcing strategy template blog post.

The request for quotation template is one of my favorites for a buying category bid. Use this template for a major bid event - typically for a multi-year agreement.

The bid is organized into 5 sections:

1. Introduction - invitation letter to partipating suppliers
2. RFQ overview provides important dates, rules of engagement, disclaimer and requirements for service level, quality, inventory and pricing.
3. A set of instructions on how to complete the request for quotation.
4. Supplier questionnaire with the objective of learning more of the supplier’s management, products and the industry.
5. A section for the supplier to provide pricing. The buyer provides specifications, item description, annual volueme and order quantities.
6. The last section is for incentives that might be offered by the supplier.

The request for quotation template could also be used with an online bidding system. The process would be to send the RFP template - then have each supplier enter their quote into the bid system. The bid system could then be used to analyze supplier pricing.

Here are some screenshots from the request for quoation Excel template:

To download this Excel procurement template go to request for quotation and click on the download button. You can download all the templates by going to this link.

If you have questions or comments about this template please contact me through this link: http://purchasingtoolpak.com/#contact