Request for quote (RFQ)

Requests for quote are at the core of Fairmarkit and are built to help you be more efficient and effective in your sourcing process. On a request for quote, you will enter a list of items or services that you need to purchase and then invite suppliers to send quotes for your sourcing process.

Basic workflow

This outlines the basic workflow to create, submit, and award a request for quote. However, there are many variations to this workflow.

Note: An event goes through multiple statuses during the request process. For more information, see Event status (Buyers)

• Create a request for quote: Create an event with information about the items and services you need to purchase and select suppliers to invite.

• Send for quotes: Once submitted, suppliers can submit quotes, including their prices and terms, within a specified time frame. If they have questions, they can message you directly.

• Award a quote: Once the event is closed, you can review and award your preferred quote.