Vanilla Steel launches a quotation tool for metals procurement: Request for Quotation (RFQ)
Since its launch, 2 years ago, Vanilla Steel has been developing a digital platform for steel professionals in Europe. After steady growth in the past months in selling excess inventory via its e-auction platform, Vanilla Steel is now expanding its product range by allowing buyers and sellers to trade Prime steel (steel in perfect conditions and with full certifications) to answer the sourcing needs of its customers for material matching their exact specifications.
Vanilla Steel is now launching a Request for Quotation (RFQ) procurement tool that specifically answers the needs of prime buyers that have strict requirements. RFQs allow buyers to define their exact needed materials and to be matched with offers from different relevant suppliers.
How does the RFQ work?
The RFQ is the standard procurement method with which the buyer can request a specific product and receive multiple offers for it.
Buyers can specify Material Type, Grade, Finish, Dimensions, Total Weight, and Required Delivery Deadline and be matched with hundreds of pre-vetted EMEA suppliers.
After receiving the RFQ request, the interested suppliers will answer their best offer and the buyer will compare and choose the best one.
Let's take the example of a manufacturer that is looking to purchase 100 tonnes of Hot Rolled Coils DD11 with specific dimensions. Once registered, the purchase manager can log in and enter this information on our website to place an RFQ.
1. Make the RFQ request (100t, HR Coils, DD11, Thickness: 1.5mm, Delivery Deadline 1 month)
2. Receive offers (based on defined requirements)
3. Receive the best offer (after validating and negotiating with the different qualified suppliers)
4. Place the order (with the winning seller)
Vanilla Steel helps buyers in the negotiation process, by saving their time in selecting the relevant suppliers and ensuring they get the best terms for their request.
Once an offer is deemed interesting, the buyer can confirm and await the delivery.
What are the benefits of Vanilla Steel's RFQ for buyers?
• Specify your exact requirements in a few clicks! It’s very easy to enter all your requirements on our platform. We have standardized all fields, you just need to fill them in less than 2 minutes!
• Matchmaking with hundreds of relevant suppliers. Matching offers to hundreds of qualified and relevant suppliers based on material requirements. We know that those suppliers have the material you are looking for!
• Easy to compare offers. The standard offer format ensures that the buyer can quickly identify the best offer matching their requirements.
• All information under one roof. Buyers can track all requests and offers in one place, allowing them to reuse historical requests or track past RFQ activity and performance.
What are the benefits of Vanilla Steel's RFQ for sellers?
• Receive only qualified inquiries, no more spamming. Stop being spammed by buyers and investigate your time only for inquiries that match your product portfolio. Tell us exactly which materials you can provide and our system will match you with customers that are searching for them. Save your time and spend it on inquiries you have a chance of winning.
• Matchmaking with hundreds of relevant buyers. We have thousands of buyers on our platform that are searching for different custom-made prime materials. We will help you find the most relevant customers.
• Easy to make an offer and dedicated to supporting you in the whole process. In a few clicks, you can confirm you want to participate in the RFQ and our account manager will support you during the whole process to maximize your chances to win the tender
• All information under one roof. Sellers can track all requests and offers in one place, allowing them to reuse historical requests or track past RFQ activity and performance.
Interested to become a referred seller on Vanilla Steel’s RFQ, get in touch with us.