RFQ Template for Comparing Supplier Quotes Side by Side
An RFQ only works when every supplier answers the same questions. If one quote arrives EXW with a 45-day lead time and another arrives FOB with a 30-day lead time and a different MOQ, you are comparing different products of the negotiation, not different factories.
This Excel template gives you a buyer request block and a reply grid for up to four suppliers. You lock SKU, quantity, Incoterm, target ship window, and required documents once, then record unit price, MOQ, production days, payment terms, and sample lead time on the same columns for each reply so ranking is mechanical.
What is in the rfq template
| Field | What goes in it |
|---|---|
| Line / SKU | Your product code and line number for the request. |
| Spec / materials | What must be true: material, finish, tolerances, packaging, and compliance marks. |
| Target qty | Quantity you want priced. Keep it identical across suppliers. |
| Incoterm requested | Named place you want every quote on, for example FOB Shenzhen or EXW factory. |
| Supplier name | Factory or trading company responding to the RFQ. |
| Unit price | Quoted price in the requested currency and Incoterm. |
| MOQ | Minimum order quantity attached to that unit price. |
| Production lead time (days) | Days from deposit or PO to goods ready, as the supplier stated. |
| Payment terms | Deposit, balance, and any LC or Net terms offered. |
| Extended goods valueauto | Target qty multiplied by unit price (or MOQ × unit price if MOQ binds). |
| Rank vs criteriaauto | Optional 1 to 4 rank after you score price, lead time, and MOQ fit. |
Mistakes this template is designed to prevent
Leaving the Incoterm off the RFQ
An EXW price and an FOB price are not comparable until you add outbound freight and export clearance to EXW. State the Incoterm and named place on the request so every reply lands on the same basis.
Pricing a quantity the supplier will never accept
If your target qty sits below every realistic MOQ, the unit prices you collect are theatre. Ask for pricing at both your target and their MOQ, then decide with eyes open.
Comparing price without lead time and payment terms
A cheaper unit with a longer production window and a larger deposit often costs more in stockouts and cash. Capture lead time and payment terms on the same row as price before you crown a winner.
RFQ Template FAQ
Related reading
- Supplier evaluation matrix for importers. How to weight price, quality, and delivery after the RFQ
- True product cost, factory to warehouse. Why the cheapest RFQ reply is often not the cheapest supplier
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The template is free. Keeping fifty of them in sync is the problem.
A spreadsheet works until there are eleven versions of it and nobody knows which one the supplier filled in. SupplyAutomate keeps purchase orders, supplier documents, shipments, and landed costs in one workspace that updates as the order moves.