Managing an Open RFQ

Once an RFQ has been sent out to suppliers and is in Opened status, you can update following fields via the Edit function on the Actions menu:

• Title
• RFQ ID
• Client Company
• Preferred Delivery Date
• Requester / Reference
• Payment process
• Currency
• Benchmark
• Internal Tags
• Urgency
• Supplier Invitations (add)
• Marketplaces (select, but not remove)

Choose the open request and select Actions > Edit. This will bring you to a screen wherein the above fields can be added to and changed. Once you are satisfied with the changes, you can select Save Changes to update the RFQ.

You cannot change the description, quantity, or items on the request once it has been moved to Open status. If you need to change these fields, you will have to cancel this request and create a new one. This ensures that suppliers have the most accurate information when submitting bids.

For a Closed RFQ, the following fields can be updated via the Edit function:

• Title
• RFQ ID
• Client Company
• Payment process
• Benchmark
• Internal Tags

For an Awarded RFQ, only the Benchmark can be updated via the Edit function.

The Change close date function allows you to push the close date for the request out. You can choose whether or not you want suppliers to be notified of this new close date.

You can also make a copy of your request by using the Clone function on the Actions menu. This will create a new RFQ in Draft status as a duplicate of the cloned RFQ, allowing you to add to or update any necessary information before sending it out to suppliers.

You can close a request before the scheduled close date using the Close function.

The Add Offline Quote feature allows you to record pricing on behalf of suppliers. Learn more about this feature here: Awarding to an Offline Supplier in Fairmarkit.

The Add Requester feature allows you to associate this RFQ to a Requester user who will then be able to view your RFQ, provide Internal Notes, and communicate with suppliers. Learn more about this feature here: Adding a Requester to an RFQ.

In order to cancel the request, use the Cancel function within the Actions menu. This will send a cancellation notice to all suppliers, and alert those who have already submitted a bid that it is no longer valid.
Then open a new request with the Request Quotes button and update the quantities, description, part numbers, etc. and send it out to the same group of suppliers.

Supervisor or Admin users can use the Reassign button to move a request to any other user.

Team Leads and Buyers that are part of a team can reassign their events to any team member, an organization Supervisor, or an organization Admin with this permission. If your organization doesn't use Teams, Buyers can reassign events to any other Buyer within your organization.

You can Print or Download the RFQ as a PDF or Excel spreadsheet as well.

The RFQ Log will show you an audit trail of the RFQ's history. 

Please don't hesitate to reach out to us at support@fairmarkit.com if you have any questions.