What is request for quotation in SAP MM-PUR - Purchasing?

SAP Term: request for quotation

• Component: MM-PUR

• Component Name: Purchasing

• Description: SAP S/4HANA: A request to potential suppliers to submit a quotation for the supply of materials, goods, or services. Depending on the type of the RFQ it is either sent to a bidding platform where potential suppliers can participate in a bidding process or it can be sent to suppliers via e-mail or as a printed version.

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• Key Concepts: 
  Request for Quotation (RFQ) is a document used in the purchasing process of Materials Management (MM) module in SAP. It is used to request quotations from vendors for the supply of goods or services. The RFQ contains information about the requested items, such as quantity, delivery date, and payment terms. 
  
  How to use it: 
  In SAP, the RFQ is created in the Purchasing module. The user can enter the details of the requested items and send it to the vendor. The vendor then responds with a quotation containing the price and other details of the requested items. The user can then compare the quotations from different vendors and select the best one. 
  
  Tips & Tricks: 
  When creating an RFQ, it is important to provide as much detail as possible about the requested items. This will help vendors provide accurate quotations and reduce delays in the purchasing process. 
  
  Related Information: 
  The RFQ is part of the purchasing process in SAP. Other documents used in this process include purchase orders, goods receipts, and invoices.