Journal Press India^®

Author Details ( * ) denotes Corresponding author

Observation and documentation is an integral part of any sourcing and expediting activity. Every Sourcing manager, sourcing engineer, sourcing expeditor, sourcing coordinator must be well aware of the documentation process and what to do and what not to do. Whenever a sourcing office initiates a procurement process, it does so through requests. If a sourcing office wants to compare competitive offers, then it can mass manage through sending Request for Quotation (RFQ). The sourcing office will send a request listing the technical specification and the expected terms and conditions to competitive suppliers and gets back quotations in return. Though the process of generating an RFQ and converting it into a successful Purchase Order (PO) is simple, it has to be done systematically, to avoid chaos in document management. When this process is effectively managed, mass management of quotation and comparison becomes easier and the sourcing office will be able to make decisions in a systematic manner. However, sourcing offices adhere to the procurement policies of their Parent Organization and hence the objective of any valve sourcing office in India has to be two fold. One, to negotiate contract terms, such that the expected product quality is achieved within the prescribed financial quota. Second, the sourcing office will have to follow the norms and guidelines provided by the parent organization. Hence, it is the duty of the Regional Sourcing Manager to perfectly compose an RFQ, such that the RFQ remains comprehensive. This article rides through the basic RFQ architecture and provides guidelines to compose an attractive RFQ without compromising on the procurement policies of the Parent Organization.

Keywords

Purchase Order; Parent Organization; RFQ; Sourcing.

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