It’s All In The Specs: Our Guide To Structuring Your Next RFQ
Ready… Set… Quote!
A “Request for Quotation” (RFQ) is a part of the project development process that requires the most attention. Before you get started, there are a few things that you need to have solidified before you start production on your next project. Who is going to produce your product, and how much is it going to cost? While you may have narrowed down your budget and vetted your potential suppliers, it’s time to determine how much your project will cost and finalize your supplier. RFQ’s are an opportunity to seek out competitive bids from qualified suppliers and award the most competitive option for your project.
Which leads us to ask the question: What information should you include in your RFQ? What types of details should be asking your potential suppliers for your company to make the most informed decision?