DEFINITION
A request for quotation asks one or more suppliers for their price and availability on specific items, in a given quantity, by a given date. In electronics trading it is usually informal, and often called a WTB (want to buy).
A useful RFQ identifies the product without ambiguity, by EAN or manufacturer part number rather than a name, and states the quantity, the condition (new, refurbished grade), the region specification, the target delivery date and place, and the Incoterm. Missing any of these is how two quotes for "the same" product end up not comparable.
The supplier answers with a quotation or a proforma invoice, which becomes the purchase order once accepted.
HOW KOLIBRA HELPS
In Kolibra, a Want to buy offer sends your request to the suppliers you choose, with the product named by its EAN and part number so every answer quotes the same item.