Request For Quote (RFQ) is an official business process that enables companies to obtain competitive pricing from suppliers. It is a process in which a company solicits bids from potential suppliers for goods or services that they need. The company then evaluates the bids and selects the most suitable supplier. The RFQ process is a key part of the procurement process and is often used to ensure that companies get the best value for their money. It also helps to ensure that suppliers are providing quality goods and services at a competitive price. The RFQ process is also beneficial for suppliers as it helps them to stay competitive and increase their chances of being selected. The RFQ process is a great way for companies to find the best suppliers and ensure that they are getting the best value for their money.
