what is the deferent between PO and RFQ ?

Question

what is the deferent between PO and RFQ?

Niyas Raphy (Walnut Software Solutions) · Accepted Answer

HI,
In the simplest way, we can say RFQ is draft record and PO is confirmed records. RFQ's are quotations we have received from the supplier for a intended purchase and as there can be multiple RFQ's from different suppliers, we will select one among them, which is best for us and it will be confirmed as a PO.
Thanks & Regards

Tarini Prasad Nayak · Answer

an RFQ  is like a shopping list sent to multiple suppliers, asking them to give you prices for the items you need and A PO  on the other hand, is the actual agreement you place with a chosen supplier to purchase those items at a specific price and terms.

Wells & Drew · Answer

What if I already know the price of the items being ordered? I just want to write a PO and send to The vendor.
Currently its creating and RFQ, how do I skip the RFQ and just write a PO?

Erwin An · Answer

RFQ is an enquiry/request to vendor to provide information related the items wanted to buy, PO is the deal document to buy including items data, requirements and any condition related.

Khaled Mohammad · Answer

RFQ is a request for quotation you sent to the supplier , while PO is a purchase order to the supplier after you check the prices sent from the supplier , at that time you can confirm your PO.

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