A communication, typically electronic, solicits pricing and other related information from potential suppliers. For example, a construction company seeking materials for a new project might dispatch such a message to several lumber yards to compare costs and availability. These inquiries often include specific details about the product or service required, such as quantity, specifications, and desired delivery date.
The practice of sending these inquiries is beneficial for fostering competition among vendors, leading to more favorable pricing and terms for the requesting party. Historically, these communications were formalized letters, but the advent of email has streamlined the process, allowing for quicker dissemination and response. This efficiency allows businesses to make informed purchasing decisions more rapidly.