Create, monitor, and manage supplier quote requests more easily with our free RFQ tracker.
An RFQ tracker helps you keep control of your request for quotation process. It gives you a simple way to record which suppliers have been contacted, track quote deadlines, monitor response status, compare pricing, and keep all key RFQ details in one place.
That is why we have created a free RFQ tracker you can download and use for your next supplier quote process.
Use it to save time, avoid missed deadlines, keep supplier quotes organised, and make the RFQ process easier to manage.
Download your free RFQ tracker 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 tracker is a document, spreadsheet, or simple tool used to monitor the progress of supplier quote requests.
Instead of tracking RFQs across emails, notes, spreadsheets, and inbox reminders, an RFQ tracker gives you one place to record the status of each supplier request. This makes it easier to see who has been contacted, who has responded, which quotes are outstanding, and what action needs to happen next.
A good RFQ tracker helps you track details such as supplier name, contact details, RFQ issue date, quote deadline, response status, quoted price, delivery date, quote validity, follow up notes, and award decision.
This gives your procurement process more visibility and helps reduce delays.
Using an RFQ tracker helps you manage supplier quote requests in a clearer and more consistent way.
When RFQs are managed manually, it is easy to lose track of supplier responses, miss follow ups, forget quote deadlines, or struggle to explain where each request stands. This can slow down procurement and make the buying process harder to control.
A tracker gives you a simple way to monitor the process from start to finish.
It helps you:
It also helps your internal team. When everyone can see the status of each RFQ, it becomes easier to manage approvals, answer stakeholder questions, and move the process forward.
A strong RFQ tracker should include the information you need to monitor supplier quote requests properly.
The exact fields may change depending on your process, but most RFQ trackers should include the following.
An RFQ reference gives each request a unique name or number.
This helps you identify the RFQ quickly, especially if your team is managing multiple quote requests at the same time.
The supplier name field records which vendor has been asked to quote.
This keeps your supplier list organised and makes it clear who is involved in the RFQ process.
This field records the main supplier contact person, email address, and phone number.
Having contact details in the tracker makes follow ups quicker and reduces time spent searching through emails.
The RFQ issue date shows when the request for quotation was sent to the supplier.
This helps you track how long the supplier has had to respond and whether follow up is needed.
The quote deadline shows when the supplier response is due.
This is one of the most important fields in an RFQ tracker because it helps prevent missed deadlines and supports timely follow up.
The response status shows where each supplier is in the process.
Common statuses include not sent, sent, awaiting response, quote received, clarification required, rejected, shortlisted, and awarded.
A clear status field makes it easier to see the overall progress of the RFQ.
The quoted price field records the supplier’s submitted price.
This can include unit price, total price, delivery charges, optional costs, or any other pricing details you need to compare.
Lead time shows how long the supplier will take to deliver the product or service.
This is important because the cheapest quote may not be the best option if delivery is too slow.
Quote validity shows how long the supplier’s price remains available.
Tracking this helps your team avoid relying on expired pricing.
This field can be used to capture follow ups, clarifications, assumptions, supplier comments, approval notes, and next actions.
It helps keep important context in one place.
You should use an RFQ tracker when you need to manage more than one supplier quote request or keep a clear record of the RFQ process.
An RFQ tracker is useful when:
If you only send one occasional RFQ, a tracker may not be essential. But as soon as you manage multiple suppliers, deadlines, or quotes, a structured tracker can save time and reduce errors.
A good RFQ tracker is clear, practical, and easy to update.
It should not be overloaded with unnecessary fields. The goal is to give you a quick view of the RFQ process and help you understand what needs action.
A good tracker should be:
The best RFQ trackers help you answer simple questions quickly. Which suppliers have been contacted? Who has responded? Which quotes are overdue? Which supplier looks best? What happens next?
Even with a tracker, it is important to avoid common RFQ tracking mistakes.
If the tracker is not updated regularly, it quickly becomes unreliable. Supplier status should be reviewed whenever an RFQ is sent, a quote is received, or a follow up is made.
Price is important, but deadlines matter too. A tracker should show quote due dates, quote validity, and follow up actions so the process does not stall.
Supplier quotes may expire. If quote validity dates are not tracked, your team may base a decision on pricing that is no longer available.
RFQ decisions often depend on context. Notes about clarifications, assumptions, exclusions, or supplier conversations should be recorded in the tracker.
Two suppliers may quote different scopes, quantities, or delivery assumptions. The tracker should help you spot differences before making a decision.
A free RFQ tracker is a useful starting point if you need a simple way to monitor supplier quote requests.
It helps you track supplier status, deadlines, prices, follow ups, and award decisions in one place. For simple purchases or occasional RFQs, a tracker 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 tracker, then move to a more structured system when your quote process becomes more complex.
This free RFQ tracker is useful for anyone who needs to manage supplier quote requests.
It can be used by:
Whether you are tracking your first RFQ or improving an existing procurement process, the tracker gives you a practical way to keep everything organised.
Managing supplier quotes does not need to be complicated.
With the right tracker, you can record supplier status, monitor deadlines, compare quotes, and keep the RFQ process moving.
Download our free RFQ tracker and use it for your next supplier quote process.
Download the free RFQ tracker now.
An RFQ tracker is a document, spreadsheet, or tool used to monitor supplier quote requests. It helps buyers track supplier status, deadlines, responses, pricing, follow ups, and award decisions.
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 tracker is free to download and can be used to support your own procurement process.
Yes. You can edit the tracker to match your business, supplier category, buying process, and reporting requirements.
An RFQ tracker should usually include RFQ reference, supplier name, supplier contact, issue date, quote deadline, response status, quoted price, lead time, quote validity, notes, and next steps.
You should use an RFQ tracker when you need to manage supplier quote requests, track deadlines, monitor supplier responses, and keep a clear record of the RFQ process.
An RFQ tracker focuses on monitoring the process and status of supplier quote requests. An RFQ spreadsheet is often used to compare quote details such as pricing, delivery costs, lead times, and payment terms.
An RFQ tracker is useful because it saves time, improves visibility, reduces missed follow ups, keeps supplier information organised, and helps buyers manage the RFQ process more consistently.
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