What is Request for quotation (RFQ)?

RFQ or Request For Quotation is a procedure for any organizations before any procurement process began. Most of the organizations in Malaysia require at least 3 quotations to be present in the management meeting before the decision to be awarded to the right supplier.

Procurement department will play his/her duty to reach the right supplier who can fulfil the requirement. They will start to contact them, ask the capabilities to supply and ask the details such as quotations, brochures and discount. Once the procurement has 3 or more options, he/she will present it to the management meeting to select the best offer.

If, the offer is not meet the management judgement, then he/she will redo the procurement process from the beginning.

This is where Requestforquotation.my purpose. To speed up the searching process. The benefit here is, to gain more supplier to participate any open RFQ/RFP. With more options available, it helps the procurement to do the filters and get the best offer on the table.

request for quotation
Request for quotation website

It also gives the management the quality cost management by having multiple options for selections. Since it is open to any supplier, there is no cronyism happen from internal staff for any RFQ process.

Besides all, it will be a fair competitions between existing supplier and new supplier for having the opportunity to compete. It’s also helped the economy grow healthy in any kind of business to business.

Since requestforquotation.my is free portal, it is open to anybody to post their RFQ. For example, for house renovation. The property owner also can use this platform to get the multiple quotations from the contractor or supplier and get the best price on it. Another example, for catering, there are so many caterers out there and some caterer is a home based business and less exposure. This is a good opportunity for this new business owner to get expose with a minimum cost and price and higher quality.

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