How to Create an RFQ (Request for Quotation)1

A Quotation is a formal document from a supplier stating the price, terms,

and conditions for supplying goods or services. It is a critical step between raising a Purchase Requisition and issuing a Purchase Order

PR Approved → RFQ Sent to Suppliers → Quotations Received → Comparison → PO Issued

Step 1 — Identify the Need – Refer to the approved Purchase Requisition – Confirm item specs, quantity, and delivery requirements

Step 2 — Shortlist Suppliers – Select 3–5 qualified vendors from your approved supplier list – New vendors must be registered/validated first