Wednesday, 27 April 2016

Request for Quotation

Vendor selection is an important process in procurement cycle. Once requirements are gathered we will look for possible suppliers who can fulfill the requirements at the best possible price. So a request is made to vendors to submit their quotations indicating the price of material along with their terms and conditions. This request is known as request for quotation. The key points about request for quotation are as follows:
  • Request for quotation is a form of invitation that is sent to vendors to submit quotation indicating pricing and their terms and conditions.
  • RFQ contains details about goods or services, quantity, date of delivery and date of bid on which it is to be submitted.
  • Quotation is a reply by a vendor in response to request for quotation.
RFQ can be created by following two ways:
  • Manually
  • Automatically from Purchase Requisition

Manual Creation of RFQ

RFQ can be created manually by following the below steps:
Path to create RFQ:
Logistics => Materials Management => Purchasing => RFQ/Quotation => Request for Quotation => Create
TCode: ME41
On SAP Menu screen select Create execute icon by following the above step.
SAP request for quotation

Fill in all required details like type of RFQ (if standard then AN), language, date of RFQ, purchasing organization and group.
SAP RFQ initial

Provide the name of material, quantity of material, material group and quotation deadline date.
SAP rfq material

Provide the quantity and delivery date for the material.
SAP rfq deadline

Provide the vendor address (street number, city, country, pin code) to which you are addressing the RFQ. Click on save. A new Request for Quotation will be created.
SAP rfq vendor

Automatic Creation of RFQ from Purchase Requisition

RFQ can also be created with reference to purchase requisition by following the below steps:
On the home screen of RFQ select Reference to PReq tab.
SAP rfq auto

Enter the requisition number for which you want to create RFQ. Click on save. A new Request for Quotation will be created with reference to Purchase Requisition.
SAP rfq auto detail


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