Glossary · Q
Quotation (Quote / Bid)
A vendor's or subcontractor's written offer stating the rates, taxes, delivery time and total price for a defined supply or task.
What is Quotation (Quote / Bid)?
A quotation is a supplier's or subcontractor's formal written price offer, given in response to an enquiry, a Request for Quotation (RFQ) or a Request for Proposal (RFP). It binds the vendor to the unit rates, taxes, delivery timelines and total cost at which they will supply a specific material or carry out a specific task.
Practical example
A purchasing manager needs 5,000 tons of TMT steel and sends an enquiry to three steel mills. Mill A quotes ₹55,000 per ton including transport. Mill B quotes ₹54,000 per ton with transport extra. The manager compares the quotations to find the lowest landed cost before issuing the purchase order.
In SuperWise
SuperWise collects quotations against a request for quotation, or records walk-in quotes that staff enter from a phone call or email. The comparison view puts each vendor's rate for a resource side by side and shows the lowest. Awarding a quotation creates the purchase order, and the discounted rate carries into the PO line.
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