A structured request for quotation gets you comparable, accurate pricing. Here's the anatomy of a good one.
A request for quotation (RFQ) is the brief you send suppliers to get comparable, accurate pricing. A vague RFQ gets vague quotes; a structured one gets numbers you can actually compare.
What a good RFQ contains
- Exact product specification, materials and dimensions.
- Quantity — and price breaks at other volumes.
- Target price and currency.
- Required certifications and quality standard (e.g. AQL level).
- Destination, Incoterm and delivery window.
- Packaging, labelling and any customisation.
Make quotes comparable
Ask every supplier to quote on the same Incoterm and the same quantity breaks. Otherwise you'll be comparing an EXW price to a CIF price and the ranking will be meaningless.
Set a response deadline
A clear deadline filters for responsive suppliers and keeps your timeline on track. Sourcely turns a plain-language requirement into a structured RFQ automatically and sends it to matched, verified suppliers.
Frequently asked questions
- What is an RFQ?
- An RFQ, or request for quotation, is a structured document buyers send to suppliers describing exactly what they need — specification, quantity, terms and delivery — so suppliers can return accurate, comparable prices.
- How do I make supplier quotes comparable?
- Require every supplier to quote on the same Incoterm, the same quantity breaks and the same specification and quality standard, then normalise each quote to landed cost before comparing.
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