Compare toy quotations only after recording quotation date, currency and validity deadline separately, then convert eligible prices using one dated reference-rate basis. For toy sourcing in China, carry forward quotations with confirmed currency, current validity and matching commercial scope; hold expired or ambiguous offers for written reconfirmation. Keep the supplier’s original price beside your converted figure. A lower converted amount is a comparison result—not evidence that the supplier will still honor that price when you approve the order.
Which fields belong in the quotation comparison matrix?
| Quotation identity | Record supplier, responsible contact, quotation reference and revision. Retain the original document or message. |
|---|---|
| Comparable scope | Record the agreed toy specification and revision, quoted quantity, pricing unit, packaging and price basis, including the stated trade term and location. Identify differences in inclusions or delivery assumptions. |
| Original unit price | Copy the supplier’s amount without conversion. Keep separately quoted charges outside the unit-price calculation unless you explicitly allocate them on a consistent basis. |
| Quotation currency | Record an explicit currency code, such as USD, EUR or CNY. Ask the supplier to identify the currency if the quotation uses only an ambiguous symbol. |
| Quotation date | Record the supplier’s issue date separately from the date you received or entered the quotation. |
| Validity end date | Record the confirmed calendar deadline, cutoff time and time zone where relevant, plus the event required by that deadline. |
| Reference conversion rate and source | Record the rate, its direction and its source. Express the direction explicitly, for example as comparison-currency units per quoted-currency unit. |
| Conversion date | Record the common reference date used across the comparison, with a timestamp where needed to identify the selected rates. |
| Converted unit price | Calculate in the chosen comparison currency while retaining the original quoted amount and currency alongside it. |
| Review decision and closure | Record carry forward or pending reconfirmation, outstanding conditions, responsible reviewer and review date. Assign each supplier question an owner and retain the dated response that closes it. |
How do you convert quotation currencies without forecasting exchange rates?
Choose one comparison currency, one reference-rate source and one reference date for the entire comparison. Use the relevant currency pair for each quotation; consistency means the same source and date, not the same numerical rate across different currencies.
When the rate is expressed as comparison-currency units per quoted-currency unit, multiply the original price by that rate. If the source gives the inverse direction, divide instead. Label the direction in the worksheet so another reviewer can reproduce the calculation.
Convert directly from each original quotation rather than converting an already converted figure. Keep calculation precision consistent and apply the same display-rounding rule across offers.
Treat the result as an internal comparison value, not a locked payment amount. Supplier price validity and your reference-rate date are separate controls: a valid foreign-currency quotation does not fix your eventual conversion cost. Record bank charges or conversion allowances separately if your approval requires them.
Which quotations should move forward after normalization?
| Confirmed currency, current validity and matching scope | Carry forward for review. Check that the required acceptance event can occur before the validity deadline. |
|---|---|
| Expired or unstated validity | Keep the historical price visible, but request written confirmation of price, currency and a new validity deadline before approving it as current. |
| Ambiguous currency, issue date or commercial scope | Hold price ranking until the supplier clarifies the affected field. Do not guess the currency, substitute the email receipt date or assume matching inclusions. |
What should you ask the supplier to reconfirm?
Request a written reply tied to the exact quotation reference and revision, rather than asking whether the price is simply “still OK.”
Use this request: “Please confirm the quotation issue date, unit price and currency for the stated specification, quantity and price basis. Confirm the exact validity end date, applicable cutoff time and time zone, and whether acceptance, purchase-order receipt or deposit receipt must occur by that deadline. Identify any changes to the original offer.”
For relative wording such as “valid for several days,” ask the supplier to state the calendar deadline and its starting point explicitly. Record a renewal as a dated revision or new row; an updated message date alone should not be treated as a renewed validity period.
Quotation approval FAQs and evidence limits
Must every supplier quotation have the same issue date?
No. Preserve each original issue date and use a common reference date for currency conversion. Confirm that each offer remains valid for the intended approval and acceptance schedule; request updated quotations where that schedule cannot be met.
What if a quotation expires while internal approval is underway?
Request an extension or revised quotation before relying on the price. Keep the existing approval record, attach the supplier’s written response and have the responsible reviewer assess any changed price or conditions.
Does normalization establish the invoice amount or a standard validity period?
No. Normalization makes comparison assumptions explicit; it neither fixes the payment conversion rate nor creates a universal validity period. Carry the supplier-confirmed price, currency, deadline and acceptance conditions into the approval record.