EDI 840: Request for Quotation

EDI 840 is a digital version of a paper request for quotation. This document is used by buyers and suppliers to facilitate the electronic exchange of information supporting request from suppliers for the solicit price, delivery schedule, and other items from potential sellers of goods and services.

Benefits of using EDI 840 request for quotation

There are enormous numbers of possibilities available for a company to include data on an EDI 840 request for quotation. Some of the benefits are:

• Elimination of communication application errors created by using phone, email, fax or mailed paper reports
• The ability for the originator of the transaction set to make timely corrections to inconsistencies, minimizing the impact on time-sensitive applications
• Improved order status information when information on a product or order is required
• Fewer back-order situations or fewer product returns

Key data elements include:

• Anything that would be consistent with a paper RFQ
• Delivery schedule and condition details
• Deadline for submission of the bid
• Packaging and shipping costs
• Solicitation of price and payment conditions
• Description, quantity and price of the goods or services

Automate EDI 840 request for quotation with EDI by Design