RFQ and Vendor Quotations

A Request for Quotation (RFQ) lets you ask several suppliers to quote for the same items, then compare their prices side by side before you commit. It is the simplest way to make sure you are paying a fair price.

Before you begin

Have the items and the candidate vendors ready. Open SCM → RFQ.

Running an RFQ — step by step

1. Create the RFQ: List the items and quantities you want quoted.
2. Add vendors: Select the suppliers you want to invite.
3. Send: Mark the RFQ as sent to the vendors.
4. Record responses: Enter each vendor’s quoted price per item as quotes come in.
5. Evaluate: Udyot lays the quotes side by side so you can pick the best vendor per item or overall.
6. Convert to a Purchase Order: Turn the winning quote into a Purchase Order.

Tips & common questions

Can different items go to different vendors? Yes — you can award line by line to whichever vendor offered the best price.

Does the RFQ feed the scorecard? Yes — quoted prices contribute to each vendor’s price-competitiveness rating.

Related: Vendor Management & Scorecard.