RFQ vs RFP

The Orbweaver platform eliminates any complexity relating to the RFQ and RFP process and streamlines the supplier-client relationship for electronics manufacturing.

Organizations rely on a Request for Proposal (RFP) after the identification of a problem and uncertainty on how they should solve it. For electronics manufacturers, the terms RFQ vs RFP can be used interchangeably. However, the more common term used is an RFQ.

A Request for Quote (RFQ) is used to request information on component order requirements and pricing. An RFQ allows you and your organization to ensure that you are getting the best value for necessary products, from the best suppliers. And suppliers have the opportunity to sell more products at an appropriate price point. Buyers typically submit RFQs in a detailed invoice or proposal-style format.

Why should electronic manufacturing professionals consider Orbweaver for automation?

The RFQ is widely considered the most significant problem area related to electronic parts procurement. Orbweaver eliminates the manual and laborious data entry practices. Automating electronic component purchasing means distributors, manufacturers, and suppliers no longer have to unnecessarily waste thousands of hours and millions of dollars tackling orders and requests because of manual and inefficient processes.

Download the free eBook: Best Practices for RFQ Intake and Response

Orbweaver’s RFQ automation solutions empower organizations to remove inefficient data processes:

  • Streamline your RFQ process and quickly collect massive amounts of data.
  • Utilize collected data intelligently to learn more about consumer behavior, buying patterns, and organizational inefficiencies.
  • Make strategic decisions based on actual, real-world data and take advantage of all opportunities to grow your business.

There are countless points throughout the RFQ process where distributors, manufacturers, and suppliers have the potential make mistakes with RFQ intake and output. Tackling thousands of lines of data is impossible and avoidable with solutions like the Orbweaver Suite. When it comes to the RFQ process speed and accuracy dictates the winner in most cases.

Automation of the RFQ process is the only way to guarantee a swift and accurate process of an RFQ. 

With automated solutions like Orbweaver Connect and Advance, users can streamline the process, aggregate data instantly, and cut the review time by more than half. Recently, KEMET saw RFQ efficiencies execute up to 1000% faster with automation solutions for the RFQ process.

Read our KEMET Corporation case study to learn more about  improving your company’s efficiency with Orbweaver Advance.

To compete, win business and provide the most accurate quote, learn more about Orbweaver Connect and AdvanceRFQ automation solutions built for the electronics industry.

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