Request for Quotation (RFQ) in O2VEND ERP

Comprehensive Guide to Supplier Quotation Management, Procurement Planning & Cost Control

The Request for Quotation (RFQ) module in O2VEND ERP serves as a structured procurement tool designed to manage supplier quotations, compare competitor pricing, control purchasing costs, and convert approved quotes into purchase orders seamlessly.
This consolidated guide brings together every operational detail required to navigate, create, edit, and finalize RFQs within the O2VEND cloud ERP environment.

1. Overview of RFQ in O2VEND ERP

The RFQ dashboard provides a centralized view of all supplier quotation requests, allowing procurement teams to monitor pricing trends, evaluate vendor performance, and streamline purchasing workflows.

Key Functional Highlights

  • Centralized list of all RFQs
  • Visibility into supplier interactions
  • Detailed cost estimation and tax breakdown
  • Multi-supplier bidding support
  • Real-time procurement status updates

Core Dashboard Fields

  • Created On – RFQ generation date
  • Supplier / Branch – Supplier or originating branch
  • Status / Channel – Workflow stage (New, Received, Converted, etc.)
  • Payment Status – Pending or completed
  • Created By – Staff who initiated the RFQ
  • Total Amount – Estimated quotation value

2. Navigation Path

O2VEND Back Office → Orders → Request for Quotation

This opens the RFQ list view with filter controls for branch, status, supplier, date range, and payment condition.

3. Creating a New RFQ

Select Create RFQ (Ctrl + F9) to open the RFQ creation form.
The page is divided into structured sections to ensure accurate procurement documentation.

3.1 Supplier Information Section

Captures essential operational and commercial details required to initiate the quotation request.

Fields Included

  • Branch – Location raising the RFQ
  • Credit Days – Supplier credit term
  • Scan – Barcode scanning for product entry
  • Transport – Mode of logistics
  • Deadline – Last date for supplier quotation submission

3.2 Bidders Section (Supplier Selection)

This module allows adding one or multiple suppliers who will participate in the quotation.

Key Capabilities

  • Add multiple bidders to compare purchase cost
  • Maintain transparency across supplier negotiations
  • Track vendor response performance
  • Facilitate competitive pricing for procurement planning

4. Adding Products to the RFQ

Products can be added through manual entry, quick add, or scanning.

Product Grid Fields

  • Product Name
  • SKU
  • Quantity
  • Unit of Measure
  • Purchase Cost
  • Discount %
  • Total Amount

Automatic calculations ensure accurate pricing and cost forecasting.

5. RFQ Detailed Structure & Components

A complete RFQ contains the following structured data:

● RFQ Number

Unique identifier for tracking and documentation.

● Supplier Information

Supplier name, company details, and communication address.

● Product Information

Item names, descriptions, quantity, UOM, purchase rates.

● Expected Delivery Date

Indicates required delivery timeline.

● Pricing & Tax Details

Unit prices, net values, taxes, and total amount.

● Terms & Notes

Payment terms, delivery conditions, and special remarks.

6. Editing an RFQ After Creation

RFQs remain editable until approval.
Updates may be made to:

  • Supplier information
  • Bidders list
  • Product quantity & cost
  • Deadline or delivery requirements
  • Additional notes

This ensures accurate and updated data before supplier submission.

7. RFQ Summary & Cost Calculation

The summary panel displays complete financial calculations.

Summary Includes

  • Subtotal
  • Tax
  • Discount
  • Shipping Fee
  • Payment Fee
  • Round Off
  • Total Amount
  • Total Paid
  • Pending Amount

These components support better budgeting and procurement planning within the ERP purchasing workflow.

8. RFQ Actions & Workflow

Save

Stores the RFQ for later updates.

Save & Close

Saves the RFQ and exits the form.

Bulk Entry

Ideal for high-volume product uploads.

Generates RFQ PDF for documentation and supplier communication.

Convert to Purchase Order

Converts an approved RFQ into a Purchase Order (PO) without re-entering data.

Duplicate RFQ

Creates a clone for repeated or similar procurement needs.

9. Advantages of RFQ Module in O2VEND ERP

● Optimized Vendor Comparison

Evaluate multiple bidder quotations efficiently.

● Accurate Cost Forecasting

Real-time tax and discount calculations improve budget control.

● Centralized Procurement Management

All RFQs, costs, and supplier responses stored in one system.

● Workflow Clarity & Audit Accuracy

Deadlines, statuses, and approvals ensure better compliance.

● Reduced Manual Work

Barcode scanning and automated cost fields accelerate RFQ creation.

● Structured Procurement Automation

Smooth transition from RFQ → Supplier Response → Purchase Order.

10. FAQ – Request for Quotation (RFQ)

What is an RFQ in O2VEND ERP?

A formal request sent to suppliers to gather purchase prices, availability, and terms before placing a purchase order.

Can multiple suppliers be added to one RFQ?

Yes. Multiple bidders can be assigned to a single RFQ.

Does O2VEND calculate RFQ totals automatically?

Yes. Subtotals, taxes, discounts, and total amounts are generated automatically.

Can an RFQ be edited after creation?

Yes. Edits are allowed until the RFQ is finalized or converted.

Can an RFQ be converted to a Purchase Order?

Yes. With a single action, without re-entering product or pricing details.

Need Help with RFQ Setup?

Need Help with RFQ Configuration?

Assistance is available for RFQ creation, supplier setup, procurement flow optimization, and quotation analysis in O2VEND ERP.

Visit O2VEND Support