RFQ
What is an RFQ (request for quote)?
An RFQ, request for quote, asks suppliers to price a specific, defined scope: you know what you want (a SKU, a lane, a build with clear requirements) and you want their numbers. It differs from an RFP in that the decision is mostly about price for a known scope, not about how a supplier plans to solve an open problem.
What an RFQ must contain to be comparable
- The exact scope: quantities, specifications, service levels, dates.
- What is included and excluded, so a low number cannot hide a missing piece.
- The format you want back: unit prices, lead times, terms, the assumptions behind them.
- The deadline and the rules of engagement (validity period, who to contact for questions).
Reading the responses
Normalize before comparing: the cheapest quote is often the one that assumed the least. Line up scope, unit price, lead time, terms and the exclusions each supplier declared, and ask every supplier the same clarifying questions so the answers sit side by side. The value of an RFQ is decided before it is sent (is the scope real?) and after it returns (did everyone answer the same question?).