A request for quotation (RFQ) is a standard business process whose purpose is to invite suppliers into a bidding process to bid on specific products. To receive correct quotes, RFQs must include the specifications of the equipments to make sure all the suppliers are bidding on the same item/service.
An RFQ allows different contractors to provide a quotation, among which the best will be selected. It also makes the potential for competitive bidding a lot higher, since the suppliers could be quite certain that they are not the only ones bidding for the products.
Once you have selected the type of machine you need, you will fill a short questionnaire with technical questions about your project. This questionnaire will be reviewed by one of our technical expert and additional questions may be asked to clarify your project. You fill the questionnaire only once and within a few days, you will receive quotations directly from the vendors you suggested and from other qualified vendors.
Information such as packaging type, products, speed requirement, building information and industry in which you compete are all important variables to consider when preparing an invitation to bid document. Logically, the more detailed the specifications, the more accurate the quote will be and comparable to the other suppliers.