Request for Quotation (RFQ)
A procurement document requesting suppliers to submit pricing for specified medical devices or services. Unlike an RFP, an RFQ focuses primarily on pricing and availability rather than detailed technical evaluation.
A Request for Quotation (RFQ) is a procurement tool used when the buyer has already defined the exact product specifications and primarily needs competitive pricing. In medical device procurement, RFQs are common for commodity items, replacement parts, consumables, and re-orders of previously evaluated equipment.
RFQ vs. RFP
The key distinction is scope. An RFP seeks a comprehensive solution and evaluates technical capability, clinical outcomes, service support, and pricing together. An RFQ assumes the technical requirements are settled and focuses on price, lead time, warranty terms, and delivery logistics. In practice, many healthcare procurements blend elements of both.
Responding to medical device RFQs
Speed matters in RFQ response — the buyer already knows what they want and is comparing pricing across pre-qualified suppliers. Automated systems that can instantly retrieve current pricing, check inventory availability, calculate volume discounts, and generate formatted quotes give suppliers a significant competitive advantage.