With SocrateCloud you can send requests for quotation to vendors, for products and quantities, rank their responses and then automatically generate orders.
The first step in using requests for quotation is to create a topic in the RFQ Topic window. Request for quotation topics represent a list of vendors which can be invited to make an offer, and determines the print format used for the request.
Requests for quotation contain all the details and parameters used by a vendor to make an offer. They are entered in the RfQ window and contain products which in turn contain quantities, for which offers can be made.
After the request for quotation is completed responses can be generated for each vendor subscribed to a topic. The responses can be found in the Rfq Response window and contain the same products and quantities as the request for quotation. The responses are then updated according to vendor offers. After a response is updated, it can be verified to be complete, according to the request for quotation type.
Once all responses have been entered and verified, back in the RfQ window, they can be ranked and based on the rank, the winning responses are selected.
After the winning responses are selected, you can create purchase and sales orders, based on the request for quotation.