Forms used by Purchasing Professionals

In order to manage the need to purchase supplies and services, purchasing professionals utilize certain forms to obtain the internally requested products or services.

When it comes to forms most used by purchasing professionals you may already be familiar with some of these standard forms. For example, the Request for Quotation; Request for Proposal; Invitation to Bid; and there are many others.

While most of these procurement forms are relatively straightforward, the Request for Proposal process is a tool that has continued to evolve since its first started to appear in the early ’80’s. Since then, RFP’s have become more prevalent, have continued to be refined and in some cases is the only form companies issue (not what we recommend!). Regardless, companies that purchase goods and services need procurement forms to help manage their business. These forms are used when your selection criteria might include factors other than price, like service capabilities or technical support.

Role players in an RFP / RFQ

Typically there are 3 or 4 role players in the RFP or RFQ process. There is a Tenderer aka Supplier / Offeror / Vendor / Bidder; then there is the Owner which is the parent company that pays the invoice  submitted by the Supplier — next the user or internal department which developed the scope of work or department that originally made the request — and last, the procurement officer who is the person managing the RFP / RFQ. There are others like the accounting department which will pay the Supplier and so on.

Supplier/Vendor:   A seller of materials and or supplies who submits a proposal or quotation on your requirements identified in the request for proposal (form).

RFQPro is launching a Step by Step Guide which will help you manage the RFP Process from start to finish and best of all it includes each form you would use during each step identified in this process. All these forms will be provided in edit friendly Microsoft word documents. This comprehensive guide and template pack will be offered at a discount to all of our present subscribers with an additional discount to past or present customers before it is released to the general public. Subscribe and purchase any of our template packs today to be eligible for this discounted offer.

The Request for Quote (RFQ) process varies from company to company depending on your spend and the amount of staff designated to the procurement function.

If you are lucky enough to have a RFQ Software platform integrated into your computer operating system you are one of the fortunate ones. These companies have software which allow the purchasing department to quickly and easily turn an electronic requisition (request from the user group) into a RFQ and spin it out to three or more vendors for P&D (Price and Delivery) without leaving their chair. Most companies do not have this type of functionality and they in turn expect Buyers to retype, cut and paste, email or fax a hard copy to vendors for a quote. In these instances, much of your potential savings could in turn be chewed up by the labor costs dedicated to requesting the quotes.  There are better ways.

The RFQ is the Buyers way of determining present market costs and conditions for item which are needed to run the organization they work for. Typically they are looking for price, delivery, quality, payment terms and specifications on their needs. Often these needs are dictated by a user group or another department which is looking for product for maintenance, repair or operating (MRO) issues.  This is not the only instance where a RFQ is used, this same user group might be looking at a capital purchase of new equipment or other service related needs. The RFQ is purchasing way of keeping a handle on costs for goods and services.

Having a RFQ template for these different types of purchases will help you expedite the time you spend on acquisition and reducing acquisition costs makes your department more effective and lowers cost.  Let us help…we have many different RFQ type forms and templates in our bundles as well we are an eProcurement or eSourcing software provider by way of our RFQPro Software Platform.

If you subscribe to our mailing you will receive our FREE welcome pack of templates which include a couple of standard RFQ forms along with an invitation to bid letter. They are instantly delivered upon confirmation of your address.  If you want more robust RFQ Templates, we recommend you buy either the Purchasing Manager or Mega Pack Bundle. Both contain many sample RFQ forms which can be quickly modified to meet your specific needs to avoid having to start from scratch.

RFQ67-RequestforQuote RFQ2 Preview AppendixB