A Request For Proposal (RFP) is a document that solicits proposals from various suppliers and vendors for products or goods your company wants. An RFP is sent to potential suppliers to submit business proposals. It is submitted early in the procurement cycle, either at the preliminary study (exploratory) or procurement stage.
In Precoro, an RFP can be created manually from scratch or from a PR. Creating an RFP from a PR eliminates manual work.
In order to create an RFP please follow the steps below:
1. Navigate to the left side of the menu, open the Request for Proposals tab, and then press the Create button.
2. Select location, currency, and desired delivery date for your RFP. Once done, press the Create button.
3. On the RFP page, you should add the Suppliers, Items, and Required delivery date as needed.
4. Once all products and suppliers have been added to the RFP, press the Confirm button. This will send your request for proposals to suppliers. Suppliers will get an email with this RFP link so they can submit their proposal. proposals
5. You will get an email notification once the suppliers have submitted their proposals. You can keep track of the Suppliers' quotes by clicking on the clock symbol in the Status column.
Product statuses will help you with the following:
- Pending - a supplier for this product has not yet been selected,
- Rejected - the supplier will not be able to deliver this product,
- No proposal - no suppliers will be able to deliver this product,
- Supplier selected - the supplier for this product is selected in another proposal,
- Approved - the supplier for this product has already been selected.
6. You can select more than one supplier in the Request for Proposal or even approve a supplier for each product in the order. This will help you to choose only the best deals and save money.
7. Suppliers whose products you have approved will be notified of your decision.
If you have approved all available products, the Request For Proposal status will automatically change to Completed and the supplier will be notified of your decision by email. And you can then create a PO from the requests.
8. Also, if you have approved only part of the supplier's proposal, then you can complete the Request for Proposals by yourself with the help of the Complete button. The status of the Request For Proposals will be changed to Completed, and the statuses of unapproved products will be changed to No Proposals.