ERPmine

RFQ - Request for Proposal
Quotes are received from various Supplier for a RFQ
Supplier - the vendor who supplies the goods
A winning quote is selected from the list of quotes
PO (Purchase Order) is generated for a winning quote and sent to the supplier
The supplier fulfils the PO and sends the good to us
Goods are received into inventory
Supplier sends an invoice for the supplied items
Payments are made against those supplier invoice