Understanding The Key Elements for Preparing RFQ (Request for Quotation) (INTL)

Many organisations, big or small, as Buyers, will require to purchase material, services, equipment, or tools for their daily operation from Suppliers. For a factory or plant, they may require buying spare parts or to engage specialist services or craft labour services for the maintenance of the machines installed in the plant. For administrative office-based firms they may need to purchase stationeries and office equipment in bulk or to repair the equipment or facilities in the office. To get competitive offer according to the required needs and specifications, a request for quotation must be prepared according to certain format, methodology and checklist before it can be issued out by Buyers to Suppliers.

In this course the participants will be taught on how to prepare good RFQ as Buyers so that the Suppliers are clear on the Buyer’s requirement. As Buyer, the preparation of the RFQ content shall follow and include certain elements to get what we want and the deliverables that we require. Bad RFQ may result in getting the product or services that may not fulfil our requirement. Also, in this course the participants are taught to prepare the timeline of the RFQ and other elements that contribute to the preparation of good RFQ. This course does not cover documents for major tender or bids such as Engineering, Procurement, Construction and Commissioning (EPCC), but the concepts of RFQ can still be applied even though the quantum of making the specifications for EPCC maybe massive and require many more resources and time.