Purchasing RFQ Bid Comparison Worksheet
A bid comparison worksheet puts every supplier quote on one basis so the cheapest unit price is not mistaken for the cheapest buy. This editable table adds tooling, freight and duty to each quote and shows landed cost per unit.
| Supplier | Incoterm | Unit price | Quantity | One-time tooling | Freight and duty | Lead time (days) | Total cost | Landed cost per unit | Quote valid until | |
|---|---|---|---|---|---|---|---|---|---|---|
$38,000 | $19 | |||||||||
$40,900 | $20 | |||||||||
$39,200 | $20 | |||||||||
$38,400 | $19 |
Enter the same quantity for every bidder. Tooling is shown as a one-time cost spread over this order only, so rerun with your lifetime volume if tooling will be reused. Always compare the same Incoterm basis, and add freight and duty where the quote is EXW or FOB.
Bring ERP price history into your bids
An optional review of pulling last-paid prices and supplier performance into your RFQ process.
Optional. The tool and every export work without this. No spam.
How to use the worksheet
Replace the sample rows with your bidders. Use one quantity for all suppliers so numbers are comparable. Enter the Incoterm each supplier quoted on, then add freight and duty for any quote that excludes them. Tooling and fixtures go in the one-time column. The sheet calculates total cost and landed cost per unit and the spread summary shows how far apart the bids really are. Export to Excel to share with your approvers.
Why landed cost, not unit price
Unit price ignores everything outside the invoice line. A supplier quoting EXW at a low price can lose to a DAP quote once ocean freight, insurance, duty and brokerage are added. Tooling that looks small on a small order matters when volume is low. The landed cost formula used here is: (unit price times quantity, plus tooling, plus freight and duty) divided by quantity.
- Compare on the same Incoterm basis
- Include freight, insurance, duty and brokerage
- Spread tooling over the order or the expected lifetime volume
- Check quote validity dates before awarding
Beyond price
The lowest landed cost is only one input. Use the lead time column to see which bidders meet your need date, and keep quality history, capacity, financial health and payment terms alongside this sheet. For a weighted decision, score those factors separately and combine with price. If the lowest bid is far below the others, confirm the supplier understood the drawing before awarding.
Common mistakes
Comparing different quantities or price breaks, forgetting currency conversion, treating a quote past its validity date as current, leaving out tooling ownership terms, and ignoring payment terms that change the real cost of money. Record why you chose a bidder; auditors and finance will ask.
Frequently Asked Questions
How many suppliers should I request quotes from?
Three to five is typical for competitive buys. Fewer is reasonable for sole-source or specialized work, in which case record the justification.
How do I handle different currencies?
Convert every quote to your base currency using one agreed rate and date before entering it, and note the rate on the sheet. Consider a currency risk allowance for long contracts.
Should tooling be included in the unit price?
Compare it both ways. For a one-time order, spread it over that order. For ongoing supply, spread it over expected lifetime volume, and confirm who owns the tooling.
Does this work for services?
Yes. Use the unit price for the hourly or per-job rate and the quantity for hours or jobs, and treat mobilization as the one-time cost.
Netray can feed historical purchase prices and supplier delivery data from your ERP into a comparison like this, privately and read-only.
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