Creating a Request for Quote (RFQ) needs to be easy. If coming up with a list of potential suppliers or gathering all the required information takes too long, users will not perform the task, at which point your company is losing out on the opportunity for savings provided by competitive bidding. iRFQ™ makes creating an RFQ as simple as creating a requisition.
iRFQ™ is ISS Group’s newest web-based solution for creating RFQ’s for one or more items to one or more Suppliers. iRFQ™ can be implemented stand-alone or with iPurchase™ to create PO Requisitions, which will be routed for approval to create a QAD PO. iRFQ™ also utilizes the iApprove™ approval routing solution for approving item data (i.e.; description, UOM, Ship To, etc.) prior to creating the RFQ, and provides functionality such as importing Supplier pricing information for comparison, awarding the business to a Supplier, and tracking the ‘life’ of an RFQ.
Create Request for Quotes (RFQ) by Project
RFQ’s are managed by Project. A project can be a real project code from QAD, or it can be any identifier to group the items which need to be purchased.
Select Customer for Project from QAD Customer Master
If needed, customers can be attached to RFQ’s. This assists in tracking down previous RFQ’s to either re-create or copy.
Categorize Items within Item Groups for Buyer Assignment
Item Groups are used to categorize line items. These item groups facilitate the batch processing and assignment to specific buyers within your organization. Individual buyers can be assigned to one or more groups which contain similar items.
Track Budgets and Spend by Item Groups
Item Groups may have a budget attached. This budget is continuously updated as Purchase Order Requisitions, Purchase Orders, Receipts, and Returns are processed.
Rules based approval routing of Items within Project prior to RFQ creation (optional)
If items require approval before actually routing them to a supplier for quotation, the fully configurable iApprove™ Routing Engine can be enabled within iRFQ.
Select Items from QAD Part Master
Items can be “memo” items or they can be selected from the item master list in QAD. Items can be entered one at a time, or in batch.
Attach Drawing’s and Notes to Items
Notes and Documents can be attached to items on the RFQ. These notes and attachments can be sent to the supplier or not – determined by the user entering the notes.
Send RFQ to unlimited number of Suppliers
Suppliers are required to be in QAD and the user can select one or more suppliers to direct the RFQ to.
Auto-import of RFQ responses from Suppliers
Supplier’s quotes are imported back into the iRFQ system saving the user a great deal of time.
Select Items for PO Requisition creation (optional)
Once your quotes are returned, the business can be awarded to specific suppliers, item-by-item. Once awarded, the business can automatically create and route requisitions through iPurchase, utilizing the iApprove Routing Engine.
Track RFQ’s sent, Responses received, Requisitions created, PO’s created, and Budgets followed
iRFQ keeps track of all RFQs sent and received. At a glance, the user can see which suppliers have responded, which suppliers need to be contacted, which items have received enough quotes back, and which items have not.