The purpose of this document is to provide a detailed description of the sourcing with RFx (Request for Quotation) procurement business process.
Once RFx responses have been submitted by the bidders, it allows the operational purchaser to compare the various quotations and select a winner. The winning quotation is also subjected to another round of managerial approval, ensuring that the selection has been made with due diligence. A purchase order is then created, thereby completing the requirement raised by the purchasing employee in the form of shopping cart (SRM) or purchase requisition (ERP).
A response to a Request for Quote in which a bidder offers to sell goods and services to a buyer according to the requested criteria.
Business transaction category: BUS2202
Technical name: SRM Supplier Quote
Other names: Bid, RFx Response, Quotation, Vendor Bid, Supplier Quote
Related Business Objects
Business Process Documentation
The following business process documentation guides you through the steps from creating an RFx Response for a bid invitation to selecting the winning supplier/bidder from all the submitted quotations.
Frequently Asked Questions About System Behavior