RFQ & QUOTATION
RFQ & quotation both have same number ?
RFQ and Quotation have number
In P2P cycle we raise RFQ if source of supply is not known
1. Request for Quotation: Purchasing dept will collect the purchase requisition and send request for quotation to the vendor/s.
Once vendor respods to these RFQ these are maintained as quoatation
( Once purchasing dept receives quotations from the vendor, it's time for vendor selection to find out the best suitable vendor for releasing purchase order. During the vendor selection, several factors will be accounted i.e. rate, quality, lead time, after supply service).