If you are working with planning and sourcing materials then you might on occasion have the need to use an RFQ to see if a product can be sourced differently from multiple suppliers. There is an option to change a planned purchase into a request for quote when reviewing the planned orders. This will then follow the RFQ and when a vendor is selected then a purchase order would be created from the RFQ.
Here is a quick overview.
AX2012 R3 CU11