What is RFQ and how does it work?

02 Aug 2021
International buyers have a lot of ways to source commodities or manufactured products in bulk from Indonesia. They may buy Indonesian products from trading agencies which often come with high amount of fees. They may source products from unverified sellers at cheaper fees but with no guarantee of the quality of the products.
 
Now, the problems during sourcing process such as high costs or unverified sellers are no longer an issue because they can all be settled thank to Madeinindonesia.com.
 
As a cross border B2B e-commerce platform, Madeinindonesia.com offers a number of key features for potential buyers overseas, including a variety of products available for the global market. The e-commerce platform also highlights some import document requirements for international buyers to prepare.
 
Almost all commodities or manufactured products are available at Madeinindonesia.com except oil and gas. At the platform, those products are divided into nine categories. They are agriculture and food, home and décor, apparel, fashion and accessories, heavy machinery and equipment, chemical, rubber and metallurgy, electronics and home appliance, automotive and transportation, health and beauty as well as packaging and office supplies.
 
Madeinindonesia.com’s innovation in the form of request for quotations (RFQ) system helps users find relevant customers from across the world. Buyers, for example, can submit customized orders and quote request to sellers.
 
“The seller and customer can even negotiate about the quotation, price of the product, delivery methods and place orders,” said Kalvin Singh, lead engineer with Madeinindonesia.com.
 
In addition to price issue, RFQs may include details such as payment terms, factors that could influence a company's bid selection, submission deadline and the like.
 
“Using an RFQ reduces the amount of time it takes to procure goods or services. It also offers a degree of security as the company will receive bids only from vendors it prefers. On the other hand, because RFQs reduce the amount of competition, a company may miss out on receiving the lowest-available price or learning about new high-quality vendors,” he added.
 
The following are advantages of the RFQ system and how does it work. Please have a look.
 
 
RFQ Advantages
・Electronic RFQ system could generate more responses globally
・Suppliers can bid online to provide you the best choices
・RFQ has a building bid management system
・Customers can negotiate, place orders and pay within the quotation
・Providing tangible results and measurable savings
・Save money with competitive procurement
・Average cost savings
・Save time through streamlined processes
・Reduction in procurement manhours
・Save resources through increased efficiency
・Average increase in productivity
 
 
How Does It Work?
 
We work with dozens of channel partners and leading companies to make sure you get all you need to source safely and securely from Indonesia. Not only you can submit RFQ but you may also get in touch with leading logistics partners/financing partners/verification and certification inspection companies all at one place.
Submit Request for Quotation - Fill up the required form and provide our Sellers with information of the product you need Quotation for.
Our Industry expert will contact you - Seller of that particular product will start contacting you with the relevant information instantly. For Large order, private label/white label/ production orders. Our key account manager shall provide special assistance and will contact you within 1 business day.
Select your preferred seller
100% buyer protection - Using Madeinindonesia.com, Escrow services and secure checkout process ensures that your transaction is protected and secure.