Factor makes it easier than ever for manufacturers to manage their RFQ process and track purchase orders, helping customers get more control over and visibility into their procurement process. With Factor, manufacturers like Vecna Robotics get more frequent, detailed, and actionable updates from all of their suppliers so they can deliver to customers more reliably.
We’re excited to release a significant update and redesign of the Factor supplier RFQ application which will make it easier than ever for suppliers to review RFQs and respond to buyers with their intent to quote and supporting documentation. All RFQ responses are aggregated in a single place for buyers to keep track of and review.
With the new supplier RFQ application, suppliers can now:
- View all RFQ requirements like lead times and inspection requirements
- Easily confirm or decline intent to quote
- Centralize documents and messages related to the RFQ into one place and download all part files with ease
Everything you need to respond in one place
When a manufacturer issues an RFQ, all the project-specific information is easily visible on one page so suppliers can quickly evaluate whether they want to provide a quote in response. The supplier app now clearly surfaces the project timeline, part design files, special instructions, other info relevant to the RFQ in one page so suppliers can respond to RFQs faster and more accurately.
Share intent to quote in one click
With all the RFQ information and part documentation clearly in one place, it’s easier than ever for suppliers to decide whether or not to respond to an RFQ. With Factor, suppliers can communicate this back to manufacturers with a single click so there’s never any ambiguity about whether a supplier is participating in an RFQ.
Centralize RFQ communication
Whether they’re on the supplier or purchasing side of an RFQ, we’ve found that teams consistently spend more time than they need to sifting through email threads looking for attachments, more recent versions of documents, and project details. Now, all messages and attachments are clearly displayed in one place and suppliers can send new messages or upload attachments through the supplier app.
Improve supplier relationships with purpose-built tools
While Factor is designed to streamline the RFQ and purchase order tracking processes for manufacturers, it’s built on a foundation of supplier-first design principles. Because Factor is so intuitive for suppliers to use and is accessible directly from links sent via email, our customers see 100% supplier adoption rates without onboarding or training, unlike typical ERP supplier portals that only see 30-40% adoption on average.
Learn how Factor can help streamline your organization’s supply chain by requesting a free demo today.