Quote Statuses and Process Flow
A quote represents a supplier's offer for an RFQ. Quotes go through different statuses, tracking their journey from submission to acceptance.
Quote Statuses
| Status Code | Status Name | Description |
|---|---|---|
1 | Accepted | The customer has accepted this quote, and the RFQ is now booked. |
3 | Quoted | A supplier has submitted a quote, waiting for the customer’s decision. |
4 | Requote | The customer has requested a replacement for the provided quote. |
5 | Revised | The supplier has provided new quote with modified pricing or conditions. |
8 | Revision Requested | Sales Representative has requested a revision to the quote. |
Quote Flow Process
- Supplier Submission → The supplier submits a quote (Quoted).
- Customer Decision:
- If accepted → The quote moves to Accepted, and the RFQ is Booked.
- If revision is requested → Moves to Revision Requested.
- If the supplier updates their quote → Moves to Requote.
- Finalizing the Quote:
- If the supplier adjusts pricing or conditions → Moves to Revised.
- If no further changes are made and the customer accepts → The quote is Accepted, and the RFQ is Booked.
These statuses allow suppliers and customers to track the negotiation process effectively.