What is an RFI?
A Request for Information (RFI) is a standard business process whose purpose is to collect written information about the capabilities of various suppliers. Normally it follows a format that can be used for comparative purposes. So an RFI is primarily used to gather information to help make a decision on what steps to take next. RFI’s are therefore seldom the final stage, but instead are often used in combination with: Request For Proposal (RFP), Request For Tender (RFT), and Request For Quotation (RFQ). In addition to gathering basic information, an RFI is often used as a solicitation sent to a broad base of potential suppliers for the purpose of conditioning supplier’s minds, developing strategy, building a database, and preparing for a RFP, RFT, or RFQ.
