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RFQ: Standard RFQ

This document describes different types of RFQs and POs used in procurement. Standard RFQs are for one-time purchases where discounts can be negotiated. Catalog RFQs source items with pre-defined pricing. Bid RFQs include quantity and date requirements with no discount negotiation. Planned POs agree on future item delivery, blanket POs set pricing terms for unspecified future orders, and contract POs establish terms for standard PO releases.

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54 views1 page

RFQ: Standard RFQ

This document describes different types of RFQs and POs used in procurement. Standard RFQs are for one-time purchases where discounts can be negotiated. Catalog RFQs source items with pre-defined pricing. Bid RFQs include quantity and date requirements with no discount negotiation. Planned POs agree on future item delivery, blanket POs set pricing terms for unspecified future orders, and contract POs establish terms for standard PO releases.

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Nadipalli
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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RFQ:

STANDARD RFQ :
This is used for one time procurement. In this type, we will get the price break where we
can bargain for the discount. We don’t know the quantity required or the need by date.

CATALOG RFQ:
This is used for which supplier has given of the information. In catalog type, we get the
price break where we can bargain for the discount.

Bid RFQ:
In bid type, we know the shipment i.e. need by date&quantity required. We cannot
bargain for the discount. It is generally used for regular type of items.

P.O:

PLANNED P.O:
It is an agreement between the supplier and the organization to take a specific item on
some expected date. Later on with reference to the document, a scheduled release is sent.
After getting the scheduled release, supplier will send the item.

Here we are mentioning a approximate date.

Quantity mentioned in the scheduled release must be greater than the minimum release.
(purchasing options).

BLANKET P.O:
It is agreement between supplier and the company for a specific item on some terms and
conditions, for an amount agreed (Amount is mentioned not quantity and date).

We get price break where we can bargain for the discount as well as with reference to this
document, we can create blanket release. In blanket release, we will give the need by
date and quantity required.

CONTRACT P.O:
It is an agreement between the supplier and company for an amount agreed under some
terms can conditions. With reference to this document, we have to create a standard P.O

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