A request asking suppliers to provide pricing and terms for specified products, quantities, or services.
Why Request for Quotation (RFQ) matters
Understanding this term helps teams align sales, operations, finance, and technology around how business customers evaluate, purchase, and receive products or services.
How It Applies to E-Commerce
B2B storefronts can let buyers submit RFQs for products, quantities, and negotiated prices.
How It Applies to ERP Systems
ERP uses costs, availability, and customer terms to validate quotations and convert accepted quotes to orders.
How It Applies to CRM Systems
CRM tracks RFQ-driven opportunities, negotiation history, and follow-up.