A Request for Information [RFI] is a market enquiry prepared by the buyer and issued to one or more prospective suppliers. The purpose is to gather information about the category, the supplier’s solutions, capacity and or capability, and key market intelligence. An RFI is used when the buyer lacks understanding of the product or service and/or the category, and wishes to increase that understanding prior to seeking commercial offers through a Request for Quotation, Proposal or Tender. RFIs are usually part of a multi-stage procurement process, with the next step usually involving shortlisting potential respondents based on the RFI replies and inviting commercial offers. The RFI may also be used to stimulate the supply market and to condition prospective suppliers about the potential opportunity that may exist. See also Expression of Interest, Request for Proposal and RFx.
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Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and procurement consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
