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3. What is an RFQ?

📖 An RFQ, or Request for Quote, is a formal invitation issued by your business or through your dedicated buyer on Ply to solicit price quotes from suppliers.


Here’s how it works within Ply:

  • Detailed Information: Each RFQ includes comprehensive specifications about the desired goods or services, such as scope, quantities, quality standards, and delivery timelines.
  • Submission Process: Suppliers receive the RFQ via a PDF or a link generated by Ply and submit their bids accordingly.
  • Evaluation and Selection: You then assess these bids, considering price, quality, supplier reputation, and capability to meet delivery schedules, among other criteria.

Ply streamlines the RFQ process, making it easier for you to request and compare quotes, ultimately helping you make informed procurement decisions.

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