Request for Quotation (RFQ)

Catalogued

A Request for Quotation (RFQ) is a formal procurement document that solicits pricing and terms from potential suppliers for specific goods or services. Organizations issue RFQs to compare costs, delivery timelines, and conditions across multiple vendors before making purchasing decisions. This process is used in supply chain operations to ensure competitive pricing, validate market rates, and establish documented records for procurement transactions.

Request for Quotation (RFQ) sits under Procurement and Purchasing in the Transportation, Supply Chain, and Logistics domain of the Luminid skills catalogue.

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