Create, manage, and compare supplier quotes more easily with our free RFQ spreadsheet.
An RFQ spreadsheet helps you organise supplier pricing in one place. It gives you a simple way to record supplier details, compare quotes side by side, check delivery dates, review terms, and make a more informed buying decision.
That is why we have created a free RFQ spreadsheet you can download and use for your next request for quotation.
Use it to save time, keep supplier quotes organised, and make price comparison clearer.
Download your free RFQ spreadsheet now.
RFQ stands for request for quotation.
A request for quotation is a procurement document used to ask suppliers for prices for a clearly defined product, service, or requirement. It is usually used when the buyer already knows what they need and wants suppliers to provide pricing, delivery information, terms, and availability.
An RFQ helps suppliers understand what they are being asked to quote for, how pricing should be submitted, when the quote is needed, and how the buyer will compare responses.
For a general overview, Investopedia explains that a request for quote is a process in which a company asks suppliers to submit price quotes for specific products or services. Read their request for quote definition for more context.
An RFQ spreadsheet is a simple spreadsheet used to collect, organise, and compare supplier quotes.
Instead of reviewing quotes across separate emails, PDFs, or attachments, an RFQ spreadsheet gives you one place to record the key information from each supplier. This makes it easier to compare pricing, delivery times, payment terms, quote validity, and any extra costs.
A good RFQ spreadsheet helps you track details such as supplier name, item description, quantity, unit price, total price, delivery cost, lead time, payment terms, quote expiry date, and notes.
This gives your procurement process more structure and makes supplier comparison easier.
Using an RFQ spreadsheet helps you compare supplier quotes in a clearer and more consistent way.
When supplier quotes are reviewed manually, important details can be missed. One supplier may include delivery costs, another may exclude VAT, and another may quote a different lead time or unit of measure. Without a structured comparison, it is easy to choose the wrong quote or misunderstand the true cost.
A spreadsheet gives you a simple way to organise the information.
It helps you:
It also helps your internal team. When pricing is shown clearly in one spreadsheet, stakeholders can review options faster and understand why a supplier was selected.
A strong RFQ spreadsheet should include the information you need to compare supplier quotes properly.
The exact columns may change depending on what you are buying, but most RFQ spreadsheets should include the following.
This column records the name of each supplier that has submitted a quote.
It helps you keep responses organised and makes it clear which supplier each price belongs to.
This column explains what the supplier is quoting for.
It may include the product name, service description, model number, part number, specification, or any other detail needed to identify the requirement.
Clear descriptions help prevent confusion when comparing quotes.
The quantity column shows how many units, hours, days, or service periods the quote covers.
This is important because prices can change depending on volume. It also helps you check that every supplier has quoted against the same requirement.
The unit price shows the cost of one item, unit, hour, day, or service line.
Recording unit prices makes it easier to compare suppliers, especially when quantities may change later.
The total price shows the full cost for the quoted quantity.
This is one of the most important columns in an RFQ spreadsheet because it gives a clear view of the total supplier cost before any extras are considered.
Delivery costs can affect the final price.
Some suppliers include delivery in the total price, while others add it separately. Recording delivery costs in a separate column helps you compare the true cost of each quote.
Lead time shows how long the supplier will take to deliver the product or service.
A lower price may not be the best option if the supplier cannot deliver in time. Including lead time helps you compare cost against availability.
Quote validity shows how long the supplier’s price is available.
This is useful because prices may expire after a certain date. Tracking quote validity helps your team avoid relying on outdated pricing.
Payment terms explain when and how the supplier expects to be paid.
This may include payment on delivery, payment within 30 days, upfront payment, staged payments, or other commercial terms.
This column can be used to capture anything that affects the quote.
For example, a supplier may include assumptions, exclusions, minimum order quantities, optional extras, warranty terms, or special conditions.
You should use an RFQ spreadsheet when you need to compare supplier quotes in a structured way.
An RFQ spreadsheet is useful when:
If you only have one supplier quote, a spreadsheet may not be essential. But as soon as you have multiple quotes to compare, a structured spreadsheet can save time and reduce mistakes.
A good RFQ spreadsheet is clear, practical, and easy to use.
It should not be overloaded with unnecessary columns. The goal is to help you compare supplier quotes quickly and accurately.
A good spreadsheet should be:
The best RFQ spreadsheets focus on the information that affects the buying decision, such as price, delivery, lead time, terms, and supplier notes.
Even with a spreadsheet, it is important to avoid common RFQ comparison mistakes.
A supplier with the lowest unit price may not have the lowest total cost. Delivery charges, minimum order quantities, setup fees, taxes, and other costs can change the final price.
Delivery costs are often missed during quote comparison. If one supplier includes delivery and another does not, the comparison may be misleading.
The cheapest quote is not always the best if the supplier cannot deliver when needed. Lead time should be considered alongside price.
One supplier may quote per item, another per pack, and another per case. If units of measure are not standardised, the price comparison can be inaccurate.
Supplier quotes may expire. If quote validity dates are not tracked, your team may base a decision on pricing that is no longer available.
A free RFQ spreadsheet is a useful starting point if you need a simple way to compare supplier quotes.
It helps you organise prices, delivery details, lead times, and commercial terms in one place. For simple purchases or occasional RFQs, a spreadsheet may be enough.
However, if your business runs regular supplier requests, manages multiple vendors, or needs better control over approvals, comparisons, and records, dedicated RFP software can help you manage the wider supplier request process more efficiently.
RFP software can help with:
Start with the free spreadsheet, then move to a more structured system when your quote process becomes more complex.
This free RFQ spreadsheet is useful for anyone who needs to compare supplier quotes.
It can be used by:
Whether you are comparing your first supplier quotes or improving an existing procurement process, the spreadsheet gives you a practical way to keep everything organised.
Comparing supplier quotes does not need to be complicated.
With the right spreadsheet, you can record supplier prices, check delivery costs, compare lead times, and make better buying decisions.
Download our free RFQ spreadsheet and use it for your next supplier quote comparison.
Download the free RFQ spreadsheet now.
An RFQ spreadsheet is a spreadsheet used to collect, organise, and compare supplier quotes. It helps buyers review prices, delivery costs, lead times, payment terms, and supplier notes in one place.
RFQ stands for request for quotation. It is used when a buyer asks suppliers to provide prices for a clearly defined product, service, or requirement.
Yes. The RFQ spreadsheet is free to download and can be used to support your own procurement process.
Yes. You can edit the spreadsheet to match your business, supplier category, buying process, and reporting requirements.
An RFQ spreadsheet should usually include supplier name, product or service description, quantity, unit price, total price, delivery cost, lead time, quote validity, payment terms, and notes.
You should use an RFQ spreadsheet when you need to compare quotes from multiple suppliers and want a clear side by side view of pricing, delivery, and terms.
An RFQ template helps you create the request you send to suppliers. An RFQ spreadsheet helps you compare the quotes you receive back from suppliers.
An RFQ spreadsheet is useful because it saves time, keeps supplier quotes organised, improves price comparison, and helps buyers make clearer procurement decisions.
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