RFQ

What does RFQ stand for and what does it mean?

A request for quotation (RFQ) is a procurement document used to solicit pricing and service details from suppliers. It’s kind of like putting up a “Who wants this gig?” sign for vendors and then choosing the best match. Putting one together often involves clearly listing what you need (specs, quantities, timelines), providing delivery and service conditions, setting submission instructions (because chaos isn’t a strategy), establishing criteria for comparison, and then sending it to vendors and letting the pricing battle begin.

At Dots, we simplify this process. Instead of you reaching out to dozens of vendors, we take care of it for you. You submit your request on the platform, and we source prices from our network of suppliers around the world. This means you get a transparent view of the market without the manual work. You can compare costs, lead times, and availability all in one place. The result is faster decision-making and a better chance of securing the right asset at the right price. For global teams, this process also ensures that local availability is taken into account. A laptop needed in Madrid might not be available under the same terms as one needed in New York, so we bring you the most relevant quote for each location. The RFQ process is fully tracked within Dots, so once you accept a quote, it moves directly into order fulfillment with no extra paperwork on your side.