The RFQ template

Tactical considerations are required...

When developing a RFQ, certain information is required in order for the suppliers to provide a strong and relevant quotation and give the buyer the possibility to build a competitive supply chain. But depending on the market, and the sourcing tactics, consideration need to be made in order to create the desired negotiation position and, at the end, the desired relation to the selected supplier.
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Course presentation

Course Level: 

Basic level course. Preferable the participant shall have the knowledge equivalent to the three courses about the Sourcing Process (1, 2a and 2b). 

 Approx: 35 - 40 minutes to complete.


Course Description:

Developing a Request for Quotation (RFQ) is a crucial step in the procurement process, setting the foundation for a competitive supply chain. Our course is designed to guide procurement professionals through the nuances of creating an RFQ that elicits strong and relevant responses from suppliers. It delves into the essential information required in an RFQ, how market conditions and sourcing tactics influence its structure, and the strategies needed to establish the desired negotiation position and foster the optimal supplier relationship.


Learning Objectives:

  • Understand RFQ Essentials: Identify the key information needed in an RFQ to ensure comprehensive supplier responses.

  • Sourcing Tactics and RFQ Design: Explore how different sourcing strategies affect the design and focus of an RFQ.

  • Negotiation Positioning: Gain insights into creating RFQs that lead to favorable negotiation positions.

  • Building Supplier Relationships: Understand howthe RFQ process impacts long-term supplier relationships.


Who Should Enroll:

  • Procurement professionals and buyers involved in RFQ development and execution.
  • Supply chain managers seeking to enhance their procurement strategies.
  • Anyone in procurement looking to improve their skills in creating effective RFQs.


Why This Course:

Participants will leave with a further understanding of the RFQ process, equipped with the tools and knowledge to create RFQs that not only attract strong supplier responses but also position their organizations favorably for negotiations and long-term supplier relationships.

RFQ template course

Curriculum

    1. Introducing Learning Objectives.

      FREE PREVIEW

    1. Quick review of the 8-step sourcing process

    1. Download slides and sample RFQ.

    2. Content of a RFQ

    3. The RFQ letter

    1. Contract Template

    2. Selection criteria and scoring model

    1. Specification, price model and payment model

    1. Developing specification and selection criteria

About this course

  • €29,00
  • 15 lessons
  • Basic level - Tactical buyer role
  • 35-40 min
  • Quizz and Certificate

The Instructor is Fredrik Axelsson

Senior instructor. Fredrik Axelsson

Meet Fredrik, a seasoned procurement professional from Gothenburg, Sweden, with a Master's in Economics from Gothenburg University and an Executive MBA from Stockholm Business School. With roles at LM Ericsson, Solectron Sweden AB, Axelson Purchasing Resources AB, Saab AB, and Alstom/GE, Fredrik has amassed expertise in sourcing and procurement. In 2017, he launched Sourcing Partner, a procurement consultancy firm how also own and manage Learn How to Source. Fredrik's diverse experience spans from Operative Buyer to Sourcing Director and roles like Commodity Manager and Business Development, in line organizations and projects, including industries like banking and manufacturing. Fredrik's story is one of continuous growth, learning, and adaptation, making him a well-rounded professional with a wealth of knowledge to offer.

RFQ template

pros and cons

In my experience with Request for Quotation (RFQ) templates, I've learned that they can be both a boon and a bane to the procurement process. On the plus side, RFQ templates standardize requests, ensuring that all suppliers receive the same information and requirements, which simplifies comparison of bids. They save time, as the repetitive work of drafting a new document for each request is eliminated. Moreover, they help in maintaining compliance with procurement policies and procedures.

However, there's a flip side. Over-reliance on templates can lead to a lack of flexibility. Not every procurement need fits neatly into a standard template; some require customization to address specific needs or market conditions. Also, templates may become outdated if not regularly reviewed and updated to reflect changes in procurement laws, regulations, or market conditions. Lastly, the impersonal nature of templates can sometimes hinder the building of a rapport with potential suppliers, which is often crucial for negotiating the best terms.

Examples of RFQ templates often used:

Typical documents included in a Request for Quotation (RFQ) package often consist of:

  • RFQ Cover Letter: A formal introduction to the request including instructions to Bidders - detailed submission guidelines.
  • Terms and Conditions: Legal and procedural terms. Or a Frame agreement with appendices.
  • Specifications: Technical and quality requirements for the goods or services.
  • Pricing Template: A structured format for suppliers to provide their pricing.
  • Vendor Qualifications: Criteria that bidders must meet.
  • Confidentiality Agreement: To protect sensitive information shared during the RFQ process.

These documents collectively provide a clear framework for suppliers to submit their quotations and ensure that the buyer can fairly evaluate all bids.

The key is to use RFQ templates wisely—customize when necessary, keep them up-to-date, and remember the value of personal engagement with suppliers.

Best Regards 

Fredrik

Mastering Sourcing Selection Criteria

Next recommended step is about selection criteria and evaluation models

Elevate your procurement expertise and strategic decision-making capabilities.
To the course

About Learn How to Source

Learn How to Source is an online platform based in Sweden, offering a range of procurement courses accessible globally. It serves as a community where procurement experts share their knowledge through online courses, designed for various experience levels from introductory to expert. Courses are concise, about 30 minutes each, and cover different aspects of procurement, tailored for different buyer roles. The courses focus on practical knowledge, presented by seasoned professionals, and include quizzes and certificates. They can be accessed from any device, emphasizing microlearning for flexibility and efficiency.