Quoting Process

The quoting process involves a buyer’s creation and dissemination of a request for quote (RFQ) and the receipt and analysis of supplier responses. When done well, the buyer should receive enough qualified quotes that meet the time, quality and cost requirements. Performing these steps digitally can provide several benefits

  • Decreased buyer effort and time to generate RFQs.
  • Reach more potential suppliers with less effort.
  • Reduced seller effort and time to respond.
  • Increased number of responses, which has shown to decrease product cost and time.