Generating RFQs and Tracking Auction Status

After vendors are assigned, the requisition becomes a formal RFQ (Request for Quotation) with a unique quotation name and RFQ number, tracked in detail through the Purchase Requisition History screen.

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Key fields to understand and track:

• Quotation Name — the identifying name/number for this RFQ (e.g., 10000025).
• RFQ No. — a distinct RFQ reference (e.g., Q-2641), separate from the internal quotation name.
• RFQ Date — when the quotation request was formally issued (e.g., 17/04/2026).
• Assigned Purchaser — the internal team or individual managing this deal (e.g., "Purchase Head of Dept").
• Award Amount — the finalized value once a vendor is selected (e.g., 100).
• Nature of Order — typically "Material" or "Service."
• Quotation Status — e.g., Quotation Submitted, indicating vendors have responded.
• RFQ Due Date — the deadline by which vendors must respond (e.g., 01/09/2026).
• Currency — the transaction currency (e.g., INR).
• Payment Terms — searchable/selectable payment condition for the order.
• Auction Status — e.g., Ended, indicating the bidding window has closed.
• PR Line — links back to the original PR line item this RFQ came from.

The Products table within an RFQ record shows granular details per line: Special Remark, Quantity (e.g., 159), Per Unit price (e.g., 200), UOM (EA), Plant (GRM1), Total Tax Charges (e.g., 5509.8), and its own Auction Status (e.g., "Draft").

Direct answer: "Quotation Status: Quotation Submitted" plus "Auction Status: Ended" together mean vendors have submitted their bids and the auction window has closed — but this does not automatically mean a PO has been created. Always check the Award Amount field and look for a Create PO button on the Quotation Comparison screen to confirm the final step hasn't been missed.

How to use RFQ history effectively:

1. Use this screen to audit the complete lifecycle of a specific RFQ — from issue date to award.
2. Compare the Award Amount against your original Estimated Amount from the PR to evaluate procurement savings.
3. Reference the RFQ No. (like Q-2641) in any external communication with vendors or internal stakeholders for unambiguous tracking.

Why tracking both Auction Status and Quotation Status matters: These two fields can sometimes seem redundant but actually track independent aspects of the process — Auction Status reflects the bidding mechanism's lifecycle stage (Draft, Vendors Invited, Ended, Awarded), while Quotation Status reflects the document/paperwork lifecycle (Active, Quotation Submitted). A purchaser who only checks one field risks missing that, for example, bidding has technically ended but the formal quotation document hasn't been finalized yet.

Frequently Asked Questions

What's the difference between Quotation Name and RFQ No.? 

Quotation Name is typically the internal system identifier (often matching the PR number), while RFQ No. is a distinct reference number (e.g., Q-2641) specifically for the quotation request itself.

Can the RFQ Due Date be extended after vendors are invited? 

This generally depends on your organization's process, but most systems allow an authorized purchaser to update the due date if more time is needed for vendor responses.

What does "Nature of Order: Material" mean versus other values? 

It classifies the type of procurement — Material orders are for physical goods, while other values (like Service) would apply to non-material procurement.

Why would Auction Status show "Ended" while Quotation Status still shows "Quotation Submitted"? 

This simply reflects two different stages being tracked independently — the auction/bidding window has technically closed, but the quotation hasn't yet moved to the next processing stage like award or PO creation.

Is Payment Terms mandatory before the RFQ can be finalized? 

Yes, typically — Payment Terms is marked as a required field, since it directly affects the vendor's quoted pricing and final PO terms.

What does the "PR Line" field help me trace? 

It links the RFQ back to the exact original Purchase Requisition line item it originated from, useful for full traceability from initial request through to final award.