Back to basics: Quotation
13 September 2012
Quotation analysis is a key tool in identifying opportunities for cost reduction and driving objectivity into supplier selection, writes ADR’s Andy Howard
• What is quotation analysis?
Quotation analysis is a flexible assessment tool that can be used in all areas of purchasing and that lends structure, consistency and objectivity to the inquiry and tender process.
In its most basic form, it compares the prices quoted for generic materials. Or it may be a sophisticated model with weighted evaluation criteria...