Request for Price Quote Overview

Use the Request for Price Quote feature to select the best price and terms for an order.

You can create request for price quote forms to send to more than one vendor. You can also keep and manage data on vendors' bids and price quotations, or create a purchase order from an approved request for price quote.

You can also create a request for price quote from a requisition. To do this, enter data for the vendor(s) on the Vendor tab of the Purchase Requisition Line Detail dialog.

If you use the Multicurrency feature, you can create a purchase order from more than one request for price quote. They must all have the same transaction currency.

If you use the Multicompany feature, each request for price quote is owned by a specific company. When you search for a request for price quote, the search results list displays the price quote requests that belong to the active company. The vendors available are those that have accounting set up for the active company.

Approvals and Purchasing

You can choose whether or not purchase requisitions, request for price quotes, and purchase orders (including change orders and release orders) must go through an approval process. See Approval Process for Purchasing Applications Overview for more information, including the procedures for reassigning an approval step and assigning a delegate to complete approvals in your absence.