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Logistics & Supply Chain vocabulary · Procurement and Purchasing

Quotation

Meaning in logistics & supply chain, with examples

/kwoʊˈteɪʃən/nounCore term

In logistics & supply chain, quotation means: A written statement from a supplier or carrier giving the price it will charge for specific goods or services, usually valid for a limited time.

In Turkish: fiyat teklifi, teklif

How it is used

Often shortened to 'quote', which is also the verb: suppliers quote a price, and buyers request, compare and accept quotes. A quotation normally states its validity period, delivery terms and lead time.

Example sentences

  1. The quotation is valid for 30 days and includes delivery to your warehouse.

  2. We received three quotations for the packaging, and the cheapest one had the longest lead time.

Common collocations

  • request a quotation
  • send a quotation
  • valid quotation
  • compare quotations
  • formal quotation
  • RFQShort for request for quotation: a document a buyer sends to several suppliers asking them to quote prices and terms for clearly specified goods or services.
  • purchase orderAn official document a buyer sends to a supplier to order goods or services, listing the items, quantities, prices and delivery terms.
  • supplierA company or person that provides goods, materials or services to another business, usually at an agreed price and on agreed delivery terms.
  • freight rateThe price a carrier or forwarder charges to move goods, usually per container, per pallet, per kilogram or per shipment.
  • tenderA formal process in which a buyer invites suppliers or carriers to submit offers for a contract and then chooses among them on price and other criteria.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Procurement and Purchasing

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