Toward the Perfect RFQ
Whether you request quotes for contract work or respond to ones from customers, an analysis of what makes an RFQ effective offers valuable insights and advice.
Frank Russo is chief executive officer of fabricating.com, an online marketplace designed to facilitate transactions among U.S. metalworking suppliers and their American customers by providing advanced Web-based sourcing tools. He considers the RFQ (request for quote) a fundamental building block for establishing profitable partnerships between a contract manufacturer or job shop and a product developer. To him, the RFQ represents the primary means of communication that enables two parties to set and meet expectations in a fair and open manner.
In his article, “Creating an RFQ that Gets Results,” Mr. Russo explains the guiding principles for creating an effective RFQ, details the necessary elements and offers tips on optimizing results. Although Mr. Russo only briefly touches on fabricating.com and its benefits, he makes the point that a well-crafted RFQ is so important that this online marketplace includes a depth of software tools for creating near-perfect RFQs. In fact, learning how the system encourages sound RFQ practices may justify a closer look at this online marketplace.