Request for Quotations
M3 Request for Quotations improves your company's strategic purchasing processes.
M3 Request for Quotations (POQ) is a strategic purchasing tool that sets the scene for the logistics execution of delivery schedules, e-procurement, discrete purchase order processing and purchase requisitions.
The main tasks for a purchaser include selection of the right suppliers, supplier negotiation and creation of supplier agreements that coordinate projected volumes with the business plan. By establishing the surrounding environment for the material and service flows from suppliers to your company, a minimum of administration is necessary for cost-effective execution.
In today's rapidly changing business environment, where collaborative initiatives and e-commerce are leading trends, it is becoming even more essential to have a framework for inter-company relations.
Increasing transaction volumes and an ever-growing number of people involved in buying processes are also indisputable factors in the need for making such framework preparations. This is where M3 POQ plays an important role; to set the standards for supply transactions.
Within M3 POQ, requests for quotations are easily created for the purpose of agreement renewal or price inquiries for a range of products to one or several potential suppliers.
Quotation replies from different offers are easily measured against each other, either on an item line level or based on a bottom line result. The negotiated and selected supplier offer is, as a result of the buying process, converted into a valid purchase order agreement and consequently used in the transactional environment.
The output from the request for quotation process is valid supplier agreements that regulate agreed-upon conditions such as prices, discounts, lead times, delivery shares, priorities, quality standards, validity and more.
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