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What is RFQ?

Print This Post Email This Post Written by admin on Apr 16th, 2009 | Filed under: Material Management (MM)

A RFQ is a purchasing document and an invitation to a vendor(s) for quotation regarding needed materials or services. If multiple an RFQ is sent to multiple vendors, the system can automatically determine the best quote and send rejection letters in response to all others. The RFQ and the  Quotation Form are one in the same in the system as vendor’s quotes are entered directly in the RFQ.

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