Request for Quote Manager (RFQ)

SIMMS’ Request-for-Quote (RFQ) allows a one-step translation of requisitions into paperless RFQ documents that can be emailed to selected vendors for competitive pricing using a buyer and supplier accessible system (portal) for managing requests for quotes (and other types of supplier requests). When a response to an RFQ is received, the information found there can be used to edit the requisition, which can then be distributed for additional approvals or posted into a purchase order. Responses can also be attached as documents to any line item in the requisition so that Approvers can then view them in a centralized location.

Request for Quote Manager

The SIMMS RFQ Module:

  • Allows purchase order information to be reviewed and modified before launching the actual order
  • Allows you to determine the best price and terms for an order
  • Awards items to one supplier or split them between several suppliers
  • Can easily be modified until RFQs are converted to purchase orders, with amended RFQs being transmittable directly to vendors
  • Creates an RFQ from an existing requisition, or simply enter your bid items and selected vendors
  • Generates a bid analysis sheet to assist in supplier appraisal
  • Has a supplier portal that is 100% browser-native
  • Helps you input manually or generate from existing order or remote request
  • Helps you track bids, as well as each vendor’s bid information, the successful vendor receiving the bid, and the final purchase order. Once the bid award is made, SIMMS automatically converts the original request for quotation and the successful vendor’s bid information into a purchase order, awarding parts of an RFQ to different vendors, generating separate purchase orders for each vendor related to the awarded bids
  • Integrates with external systems
  • Is a formal invitation sent to one or more suppliers for the cost and availability of goods or services
  • Is a particularly important strategic sourcing product, which automatically generates a purchase request for each successful supplier
  • Manages the Buyer-Supplier-Buyer RFQ process
  • Manages highly complex non-commodity buying, in addition to easier to manage commodity buying
  • Manages the manual input of goods or services required, or allows you to select them from an item file
  • Prints or e-mails completed Request for Quotations to selected vendors and then enter the vendors quotes into the system as you receive them or have the vendors submit bids using the SIMMS RFQ Portal, along with discounts, lead days, shipping charges and terms
  • Produces a variety of bid analysis reports and inquiries simplify the selection process. Review bids on-line or on the printed Bid Analysis Report. SIMMS displays bid information for each line item, grouped by RFQ, commodity, item, vendor, buyer or date range
  • Produces individual documentation for each supplier
  • Produces pick list of relevant suppliers based upon cross-referenced criteria
  • Records suppliers’ response including price and lead times
  • Reduces costs by ensuring the lowest price available from suppliers
  • Requires no RFQ software to be installed on supplier PCs
  • Shows a supplier’s performance statistics from previous RFQs
  • Streamlines buyer tasks and increases RFQ visibility, analytics, and controls taking your buyers to the next level
  • Uses only browser-native technology for the web portal submission piece

Request for Quote Manager

The SIMMS Request for Quote Manager enables one-step translation of a requisition into a paperless RFQ document that can be emailed to selected vendors for competitive pricing via a buyer and supplier accessible system (portal) for managing requests for quotes (and other kinds of supplier requests).

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