Explanation/Reference:
The two-stage RFQ process involves the submission by the suppliers of a technical quote and a commercial quote. The technical quotes are opened and evaluated first to determine a list of qualified suppliers, and only then are the commercial quotes of the qualified suppliers opened and evaluated.
TWO STAGE RFQ
Ensure impartial judgment of supplier responses in markets that require technical and commercial evaluation of proposals to be done independently. While suppliers submit their responses as a single bid package, category managers first analyze the technical merits of the proposal while the commercial aspects of the bid remain sealed. Commercial details of bids that pass the technical evaluation are disclosed in the second evaluation phase, while the details of failed bids remain sealed. Category managers enter surrogate responses on behalf of suppliers by submitting the technical terms of the proposal during the first stage of the negotiation, and only entering the commercial terms if the first stage evaluation is successful.
References: See What's Coming in Oracle Procurement Cloud (Release 9), page 8
https://fusionhelp.oracle.com/helpPortal/topic/TopicId_P_EDADAB5CC7CF0747E040D30A68811553