In brief
A request for quotation (RFQ) asks suppliers to submit a binding price offer for clearly specified items or services.
Contents
What is Request for quotation?
The RFQ is the formal step before the order: procurement describes the requirement and asks one or more suppliers for a quotation covering price, lead time and terms. It must be distinguished from the RFI (request for information), which initially only gathers information about suppliers and solutions, and from the RFP (request for proposal), in which suppliers develop their own proposed solution for a more openly described problem.
A good technical RFQ contains the manufacturer part number and the manufacturer, for spare parts ideally the nameplate details or a photo, the quantity, the required date, the delivery address and the documents required, such as inspection certificates or declarations of conformity. In addition, it states a deadline for quotations and whether equivalent alternatives are permitted.
The more uniform the RFQ, the easier it is to compare quotations. Differences often lie not in the unit price but in lead time, minimum order quantities, certificates, warranty or whether the original part or an alternative part is actually being offered. A bid comparison should set these points out explicitly side by side, so that an apparently cheap but incomplete quotation does not win the contract.
In practice: maintenance and procurement
For spare parts, a fixed template with mandatory fields for manufacturer part number, nameplate, quantity, required date and certificates needed is recommended. Suppliers should state explicitly whether they are offering original or alternative parts and whether they deliver from stock or to order.
Synonyms and abbreviations: RFQ · request for quote · price enquiry · quotation request · invitation to tender (simplified)
Frequently asked questions
What is the difference between an RFI, RFQ and RFP?
An RFI is used for market research and asks for general information about suppliers and solutions. An RFQ requests a specific price quotation for a requirement that has already been clearly specified. An RFP is used when the requirement is only described as an objective or problem and suppliers are to submit their own solution concepts including a price.
What information belongs in an RFQ for spare parts?
Important details are the manufacturer and manufacturer part number, the nameplate details or a photo if the designation is unclear, the quantity required, the required date and the delivery address. Add the documents required, such as mill certificates or declarations of conformity, and a note on whether equivalent alternative parts are permitted.
How do you compare quotations received for an RFQ correctly?
In addition to the unit price, lead time, minimum order quantities, surcharges, payment terms, warranty and the certificates supplied should be compared. It is also decisive whether exactly the part requested or an alternative is being offered. A uniform RFQ template and a side-by-side comparison table make the comparison considerably easier.
How many suppliers should you ask for a quotation?
There is no fixed number; it depends on value, criticality and internal purchasing policy. For standard parts, a few comparative quotations are often sufficient; for high values, policies often require several. For parts made only by the original manufacturer, competition is limited anyway.