On this page
What's in the workbook
| Tab | What it's for |
|---|---|
| How to use | Six steps, on one screen |
| Lines | Your request: the lines, quantities and units, copied once |
| Quotes | One block per supplier, up to 6: unit price, unit as quoted, note, then freight, other charges, lead time, payment terms, valid until |
| Compare | Every supplier's price per line with its rank (L1, L2, L3), lines quoted, the total for the lines, the delivered total and its rank |
| Weigh it up | Optional. Give price, lead time, terms and past delivery your own weights |
| Award | Who gets each line, and the order value per supplier |
The India version adds HSN, the expected GST rate, each supplier's GST rate and amount, and a total with GST. It ranks prices before GST. Every tab comes blank and filled. The filled workbook has both examples on this page.
How to fill it in
- Copy your lines into "Lines". Use the same lines, quantities and units as your request. If you used the RFQ template, copy its whole "Line items" tab: the layout is the same.
- Enter each quote in "Quotes". Type the price the supplier wrote and the unit they wrote it in. Leave a line blank if they didn't price it. Don't type 0.
- Fix units before anything is ranked. A row where a supplier's unit doesn't match yours shows "Check units" and gets no rank. Work out the price in your unit and type it in the "Price in your unit" column. The supplier's own price and unit stay where you typed them.
- Mark alternates. If a supplier offers a different brand or item, write it in the note. It isn't ranked until you accept it: start the note with "Accepted".
- Add charges outside the lines. Freight, packing, setup or tooling each get their own row. The delivered total adds them in.
- Read the ranks, then decide. L1 is the lowest price on a line. The delivered total is ranked only for suppliers who priced every line.
How ranks and totals work
- L1, L2, L3 on each line. L1 is the lowest price, L2 the next and so on. The sheet uses L1, L2, L3. Some buyers say 1st, 2nd, 3rd for the same thing.
- Only like with like is ranked. A line is ranked among prices in the same unit and the same currency, with no open note. The sheet never converts a currency.
- A total counts only when it's complete. A supplier who priced three lines of five has a lower total because two lines are missing. The sheet shows "3 of 5 lines" and doesn't rank that total.
- Rank the delivered total, not only the lines. Freight and other charges change the order. The example below shows how.
- There's no savings row. The sheet compares the quotes in front of you. It doesn't guess what you'd have paid otherwise.
One example, from quotes to award
Thornvale Bottling Co., a made-up bottling plant in Dayton, Ohio, sent RFQ-2026-118 for five filling-line spares. That request, and the replies, are on the RFQ template page. Here they are in the comparison sheet.
The Compare tab, filled (US dollars, per piece unless stated)
| Line | Item | Qty | Kestrelmoor Fasteners | Tarnbrook Industrial | Brackenmere Fixings | Quillfield Supply |
|---|---|---|---|---|---|---|
| 1 | Bearing 6205-2RS | 40 | Not quoted | 4.20 (L2) | 3.85 (L1), alternate brand, accepted | No reply |
| 2 | Hex bolt M10 x 50 | 500 | 0.21 (L1) | 0.24 (L3) | 0.22 (L2) | No reply |
| 3 | Flat washer M10 | 500 | 0.03 (L2) | 0.04 (L3) | 0.029 (L1), from 2.90 per box of 100 | No reply |
| 4 | Lock nut M10 | 500 | 0.09 (L1) | 0.11 (L3) | 0.10 (L2) | No reply |
| 5 | Grease, 400 g | 24 | Not quoted | 11.50 (L1) | 12.40 (L2) | No reply |
| Lines quoted | 3 of 5 | 5 of 5 | 5 of 5 | 0 of 5 | ||
| Total for the lines | 165.00, not ranked | 639.00 | 626.10 | |||
| Freight | Included | Included | 35.00 | |||
| Delivered total | Not ranked | 639.00 (L1) | 661.10 (L2) | |||
| Lead time | 4 days | 5 days | 10 days |
Reading it
- Brackenmere's bearing is a different brand. It wasn't ranked until Thornvale's maintenance team accepted it. Then it's L1 at 3.85.
- Brackenmere's washers needed converting. 2.90 a box of 100 is 0.029 a piece, so it's L1 on line 3 once it's in your unit.
- Kestrelmoor's 165.00 isn't the lowest total. It covers three lines of five, so it isn't ranked.
- Brackenmere's lines add up to less than Tarnbrook's, but its delivered total doesn't. The 35.00 freight puts Tarnbrook first.
- Quillfield didn't reply. It stays on the sheet, so next time you know.
The second round
Thornvale sent the RFQ template's email 5 to Tarnbrook and Brackenmere for lines 1 and 5. Tarnbrook came back at 3.95 on the bearing. Brackenmere kept its prices. Tarnbrook's delivered total is now 629.00, still L1.
The award
Thornvale splits the order by line. Kestrelmoor is L1 on bolts and lock nuts and L2 on washers by a tenth of a cent, with freight included. Tarnbrook is L1 on grease and L2 on the bearing.
| Supplier | Lines | Order value |
|---|---|---|
| Kestrelmoor Fasteners | 2, 3, 4 | 165.00 |
| Tarnbrook Industrial | 1, 5 | 434.00 |
Brackenmere is L1 on the bearing and the washers, but gets neither. Its 35.00 freight is more than the gap on those two lines: 4.00 on the bearing and 0.50 on the washers.
Before you rank: seven checks
| Check | What to look for |
|---|---|
| Units | Per piece, per box, per metre, per kg. Convert before you compare |
| Same item | Alternate brands, a different grade, thinner board. Ask before you count it |
| Missing lines | A blank isn't a 0. A supplier who skipped lines can't win on total |
| Charges outside the lines | Freight, packing, setup, tooling, minimum order charges |
| Currency | Rank only within one currency. Don't convert someone's quote to make it fit |
| Validity | A price that expires before you can sign off isn't a price |
| Terms | Payment terms and delivery terms change what a price is worth. Note them under each supplier |
When price isn't the only thing
Use the optional "Weigh it up" tab when lead time or past delivery matters as much as price. Agree the weights before the quotes come in, give each supplier a score from 1 to 5, and the sheet works out a weighted score. It's a check before an award, not a supplier rating.
Buying in India
In India this sheet is often called a comparative statement of quotations, or CS. The lowest quote is L1, on a line or overall. The workbook's India version works the same way, with three additions:
- HSN or SAC per line, so you can see which GST rate applies.
- Prices before GST, with the GST rate and amount in their own columns, and a total with GST below. If your company can claim input tax credit on these goods, compare prices before GST. If it can't, read the total with GST.
- A GST rate check. You enter the rate you expect for each line. A supplier who quotes a different rate gets "Check rate" in its cell.
Example: Kalindra Home Products Pvt Ltd, Pune (the made-up buyer from the RFQ template's India example, on a later box order; rupees per piece, before GST)
| Line | Item | HSN | Qty | Tanvira Boards | Ambolkar Cartons | Kesarvan Packaging |
|---|---|---|---|---|---|---|
| 1 | 5 ply box, printed | 4819 | 10,000 | 38.50 (L3) | 36.90 (L1) | 37.40 (L2) |
| 2 | 3 ply box, plain | 4819 | 15,000 | 12.20 (L2) | 12.80 (L3) | 11.60 (L1) |
| 3 | 3 ply box, small, plain | 4819 | 10,000 | 4.10 (L2) | 3.95 (L1) | Not quoted |
| GST rate | 5% | 12%: check rate | 5% | |||
| Lines quoted | 3 of 3 | 3 of 3 | 2 of 3 | |||
| Total before GST | 6,09,000 | 6,00,500 | 5,48,000, not ranked | |||
| Freight | Included | 6,500 | Included | |||
| Delivered total before GST | 6,09,000 (L2) | 6,07,000 (L1) | Not ranked | |||
| Total with GST, lines only | 6,39,450 | 6,72,560 | 5,75,400, not ranked | |||
| Lead time | 12 days | 15 days | 10 days |
Ambolkar is L1 by 2,000 rupees before GST. But it quoted 12% GST, where Kalindra expects 5% and the other two quoted 5%. Ask it which rate is right before you compare totals with GST. With a total that close, this is also the time to ask both for a best and final price. The total with GST leaves freight out, because GST on freight depends on how it's billed.
After the comparison
- Prices close? Ask every supplier still in the running for a best and final price, with one deadline. The RFQ template has the email.
- Award, and tell the others. The RFQ template's emails 6 and 7 do both. You can split the award by line, as Thornvale did.
- Or let suppliers compete. With SourcingHQ, you send one request to all your suppliers and every quote lands in one place. When you want them to compete, switch on a live reverse auction for that request, and suppliers bid against each other until it closes. How to get your suppliers to bid against each other has both routes.
Quotes in PDFs and emails? Skip the typing
The free quote comparison tool reads the quotes you already have: PDFs, photos (JPG or PNG), Excel, CSV or pasted text. You check how it matched the lines, and then it shows every price side by side. It marks the lowest on each line and ranks L1, L2, L3, within one currency only. A total is ranked only when it covers every line. It never converts units or currencies. No account needed.
Common mistakes
- Comparing totals first. The cheapest total can be the one with lines missing.
- Typing 0 for a line a supplier didn't price. A 0 is a price, so it wins. Leave the cell blank.
- Ranking before units match. Per box and per piece aren't the same price.
- Forgetting freight. It can change who's L1, as in the example.
- Counting an alternate as a match. Check the brand or spec first.
- Changing the weights after you've seen the prices. Set them before the quotes come in.
Common questions
What is a quotation comparison?
It's putting quotes from several suppliers side by side, for the same lines, to choose who to buy from. You compare price per line, the total with freight, and the terms. This template does it in one sheet.
How do I compare quotations in Excel?
Put your lines down the side and one column per supplier across the top. Enter each unit price in your own unit. Mark the lowest on each line, then add freight and other charges for a delivered total. This workbook has the formulas set up, blank and filled.
What is a comparative statement of quotations?
It's the name used in India, often shortened to CS, for a quotation comparison sheet. It lists each supplier's price per line, marks L1, L2, L3, and shows GST separately. The India version of this workbook is one.
What do L1, L2 and L3 mean in a quotation?
L1 is the lowest price on a line, L2 the second lowest and L3 the third. They're compared only when the prices are for the same item, unit and currency.
Should I compare quotations with or without GST?
If your company can claim input tax credit on these goods, compare prices before GST. If it can't, compare the price with GST. Either way, check every supplier used the right rate.
Can I split an order between suppliers?
Yes, line by line: give each line to the supplier who's best on it. Check freight first. A small line from a supplier who charges freight can cost more than it saves.
Next step
Changelog. 1.0, 5 November 2026: first version.
Made-up companies and figures throughout.