Manufacturers in need of high-quality suppliers and services benefit from being able to critically evaluate quotes and proposals. Because requests for quotations and requests for proposals are the bread-and-butter of a manufacturer’s ability to build quality relationships with their customers, manufacturers benefit from understanding the types of pricing suppliers can provide them.
Request for Quotes Versus Request for Proposals
Both quotes and proposals focus on pricing products or services, but they differ in how the potential purchaser makes his considerations. If a client is already aware of the exact services or products that they need, suppliers produce a request for quote (RFQ). Quotes are price-centric, and quotes tend to get closer to the actual price of the finished product or service, because, ideally, the company has fixed prices or fixed ways of determining the cost.
Alternatively, a request for proposal (RFP) addresses project problems or vague ideas of how those goals should be met. A proposal is a solution with a price point attached. Proposals seek to answer who can provide the best solution for the best price. If the business is also managing the execution of the project, proposal numbers may end up looking dramatically different by the end of the project.
Regardless of the material and services needed, manufacturers need an organized system to send, receive, and compare RFPs and RFQs. Carefully considered quotes and proposals strengthen relationships between suppliers, dealers, distributors, and manufacturers.
Tools Need to Compare Request for Quotations and Request for Proposals
Finding the best vendor suitable to deliver expected quality material on time is a challenge in a typical manufacturing environment. Oftentimes comparing quotes from suppliers might feel like comparing apples to oranges. Manufacturers need interactive visual data and configurable data tables to choose the best suppliers based on price and delivery times.
Whiz Synergy has a provision to initiate a process of requesting and comparing an unlimited number of quotations. These quotations are compared based on price and lead time to deliver the required quantity of material. Our comparison system suggests the best supplier to go with for the given material procurement. To bring active data to your small to medium business, sign up for a free demo.
Quality ERP for Your Small-to-Medium Manufacturing Business
e-Whiz Global was founded in 2009 with the sole purpose of offering simple & effective business solutions to our customers and business partners. Today, we offer comprehensive technology solutions for ERP, CRM and Accounting in major vertical industries.
With a growing global team of solutions architects, software engineers and project managers, we bring vast experience in your Business Domain, Product Development & Information Technology services. Our underlying philosophy is simple: If you want to go fast, go alone. But if you want to go further, partner with e-Whiz Global.