A Request for Quotation (RFQ) is an official business document used in the supply chain process. It is a request from a buyer to a supplier for a quote on a specific product or service. The RFQ typically includes details about the product or service being requested, the quantity required, and the timeframe for delivery. It also includes any other pertinent information that the supplier needs to provide an accurate quote. The RFQ is used to solicit bids from multiple suppliers, allowing the buyer to compare the quotes and select the most suitable supplier. The RFQ is an important tool in the supply chain process, as it helps buyers ensure they are getting the best possible price for the product or service they need.
