Skip to main content

Supplier Quotations

Supplier Quotations in Ultro ERP capture, manage, and compare price offers received from vendors. Quotations can be created automatically as a result of an issued Request for Quotation (RFQ) or created directly by procurement teams when handling ad hoc or urgent supplier offers.

Key capabilities (Ultro ERP)​

  1. Supplier Quotations via RFQ

    • When an RFQ is issued, Ultro automatically creates a draft Supplier Quotation for each invited supplier.
    • Item details, quantities and specifications are pre-filled from the RFQ, so procurement only needs to update prices and commercial terms after receiving the supplier response.
    • This reduces repetitive data entry and keeps RFQs and quotations in sync.

  2. Direct Supplier Quotations (without RFQ)

    • Suppliers can submit quotations directly or procurement can create a Supplier Quotation manually by selecting a supplier and adding items.
    • Useful for urgent purchases, repeat orders, or single‑vendor sourcing.

  3. Multiple quotations per item

    • Ultro allows multiple Supplier Quotations for the same item enabling side‑by‑side comparison across vendors for price, delivery timelines, taxes, and commercial terms.

  4. Quotation lifecycle management

    • Statuses: Draft → Submitted / Received → Approved / Rejected → Converted (to Purchase Order).
    • Revisions maintain version history so changes to pricing or terms are auditable.

  5. Amendments & revisions

    • Supplier Quotations can be revised when vendors provide updated prices or terms. Each revision is tracked to preserve traceability.

  6. Traceability & links

    • Quotations are linked back to the originating Purchase Requisition(s) and RFQ (when applicable), and always reference the supplier record in Ultro.
    • This linkage supports transparent procurement workflows and makes it easy to audit decisions.

Typical workflow​

  1. RFQ issued → Ultro creates draft Supplier Quotations for invited suppliers.
  2. Suppliers submit quotations (procurement updates drafts with prices & delivery terms).
  3. Use Quotation Comparison to evaluate and select the preferred supplier.
  4. Convert the approved quotation into a Purchase Order to start fulfillment.

Business benefits​

  • Eliminates duplicate data entry and speeds up quotation processing.
  • Simplifies vendor comparison and decision making.
  • Supports a mix of structured (RFQ) and flexible (direct) procurement scenarios.
  • Improves audit readiness by keeping an explicit audit trail of revisions and approvals.

Tips for procurement teams​

  • Keep supplier contact details current to ensure automated communications work reliably.
  • Encourage suppliers to specify delivery timelines and any assumptions in their quotations.
  • Use the quotation comparison report to document selection rationale for governance.

docs/purchase/supplier-quotation/index.md

Content goes here.