Glossary
Speed-to-quote
Speed-to-quote is the time between receiving an RFQ and sending the priced quote back to the buyer. In aircraft parts trading, buyers typically send the same RFQ to ten or more suppliers and shortlist the first few responses, so quotes sent within the first hour win disproportionately often. Cutting this delay from hours to minutes is the core metric that quoting tools such as aersyn.ai are measured on.
Also known as: quote turnaround time, quote response time