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RFQs: Solicit and Track Pricing

This course is part of Strategic Sourcing & Supplier Selection Specialization

Instructor: LearningMate

Included with

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1 module

Gain insight into a topic and learn the fundamentals.

Beginner level

Recommended experience

1 hour to complete

Flexible schedule

Learn at your own pace

1 module

Gain insight into a topic and learn the fundamentals.

Beginner level

Recommended experience

1 hour to complete

Flexible schedule

Learn at your own pace

What you'll learn

Learners will identify mandatory RFQ data fields and use templates to collect, compare, and track vendor pricing for procurement.

Skills you'll gain

Details to know

Shareable certificate

Add to your LinkedIn profile

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Build your subject-matter expertise

This course is part of the Strategic Sourcing & Supplier Selection Specialization

When you enroll in this course, you'll also be enrolled in this Specialization.

Learn new concepts from industry experts
Gain a foundational understanding of a subject or tool
Develop job-relevant skills with hands-on projects
Earn a shareable career certificate

There is 1 module in this course

RFQs: Solicit and Track Pricing is a beginner-level course designed for anyone looking to master a core procurement function. In today's competitive business environment, making smart, cost-effective purchasing decisions hinges on a structured, fair, and transparent process. This course demystifies the Request for Quotation (RFQ) process, moving beyond simple definitions to provide a practical, step-by-step guide on how to identify mandatory data fields and apply a standardized template to solicit and track vendor pricing. You will explore real-world case studies, engage in hands-on activities to build your own RFQ, and learn to use a tracking system to manage responses. Whether you are new to a procurement role or occasionally handle purchasing tasks, this course will equip you with the foundational knowledge to manage the quoting process confidently, ensuring you can gather clear, comparable pricing and make sharp, data-driven sourcing decisions.

Module details

In this module, you will learn the essential, end-to-end process for managing Requests for Quotation (RFQ). We begin by exploring why a structured RFQ process is critical for avoiding costly errors and project delays. You will then learn to identify the non-negotiable data fields that form the backbone of any clear and effective RFQ. Finally, you will learn how to apply this knowledge by using a standard template to solicit quotes and a tracking system to manage vendor responses, setting the stage for fair and informed supplier selection.