It sounds like you're not making the most of your application. If you're requesting Quotes from Suppliers, and each Quote could have multiple Components for the same Project, I would suggest setting up an application that is much more in depth. An application that has one table is really just a glorified spreadsheet.
Based on your information, I see an application that would have at least these tables:
- Clients
- Projects
- Quotes
- Quote Components
- Components (just a general listing of all possible components)
- Suppliers
While you wouldn't be able to setup an email notification, you could setup a report on your dashboard that would show you all Quotes in a specific status and the # of Quote Components that have been completed vs pending, or something similar.