Comparing supplier quotes means assessing replies against the same purchasing requirements: part number, quantity, unit, price, currency and delivery date. VendorIQ helps match data from correspondence to BOM items, flags missing information and prepares a recommendation. Choosing a quote remains the buyer’s decision.
How do you compare quotes without missing the differences?
- Start with a common scope. A BOM (Bill of Materials) lists the parts and quantities required. Check that suppliers are quoting the same part numbers, units and quantities.
- Separate unit price from line total. A low unit price is not enough when a quote does not confirm the required quantity. Keep the currency and whether prices exclude tax visible.
- Check the delivery terms. Lead time and quote validity affect whether a quote is usable. Check freight and other costs in the supplier’s reply; do not assume they are included.
- Separate missing details from alternatives. An incomplete quote needs clarification. A substitute needs its own technical and purchasing decision; it does not automatically replace a BOM item.
Illustrative example
20 M12 sensors. Which quote makes sense?
For this example, assume the parts are needed within 5 days. All prices are net amounts in PLN, excluding shipping. Companies and figures are fictional: this illustrates a decision, not a customer result.
| Supplier | Quantity | Unit price | Total | Delivery |
|---|---|---|---|---|
| A | 20 units | PLN 62.00 | PLN 1,240 | 2 days |
| B | 20 units | PLN 59.50 | PLN 1,190 | 14 days |
| C | Missing | PLN 55.00 | Needs clarification | 5 days |
Quote A meets the assumed deadline and costs PLN 50 more than B. Quote B is cheaper but arrives too late. Quote C cannot be assessed for the full requirement without confirming the quantity. Its lowest unit price does not yet make it the best purchase.
What does VendorIQ do with supplier replies?
Developed by PWM Automatyka, VendorIQ links RFQs, replies and quotes within a purchasing project. Extracted data is validated, and uncertain information is flagged on the relevant line — decisions such as accepting a substitute are made in that line’s quote window. The comparison shows why a quote is ineligible, such as missing quantity or expired validity.
Data completeness, an AI recommendation and a user decision are three different things. A complete quote may still miss the project deadline. A recommendation is a proposal with a reason. The user’s selection enables a purchase order draft, and sending it requires approval.
Before the reply deadline, the project shows which suppliers you are still waiting for and until when. You can wait or deliberately prepare an early recommendation. After the deadline, missing responses from some suppliers do not block a recommendation based on the available quotes, and outstanding replies remain visible.
Which decisions stay with the buyer?
- The system does not invent missing part specifications or change the BOM on its own.
- It does not approve substitutes proposed by a supplier.
- It does not add different currencies into one total. A financial comparison needs agreed conversion rules.
- It does not confirm current stock from a supplier catalogue entry alone.
When does an Excel comparison stop being enough?
A spreadsheet may be enough for a one-off purchase with a few complete quotes. VendorIQ is designed for recurring purchasing where replies arrive at different times, need clarification and must stay linked to the original RFQ and decision history.
During a pilot, measure the time spent preparing comparisons, the number of manually copied line items and the missing details caught before ordering. Measurements on your own RFQs provide the basis for evaluating the benefit to your team.