A supplier quotation is a commercial offer stating what a supplier will provide and under which price, quantity, delivery and payment conditions. It should be read with its assumptions, exclusions and validity period.
How Supplier Quotation works in a sourcing process
Normalize descriptions, units, currencies, Incoterms, freight, taxes, lead time, minimums and payment terms before comparing quotations.
| Area | What to record |
|---|---|
| Decision | Normalize descriptions, units, currencies, Incoterms, freight, taxes, lead time, minimums and payment terms before comparing quotations. |
| Evidence | Keep the original offer, revision history, clarifications, attachments, validity, authorized supplier contact and evaluation version. |
| Watch point | A quoted total can look complete while excluding tooling, packing, inspection, duty or destination charges. |
What buyers should verify
Keep the original offer, revision history, clarifications, attachments, validity, authorized supplier contact and evaluation version.
A quoted total can look complete while excluding tooling, packing, inspection, duty or destination charges.
