What is Request for Information (RFI)?

Request for information (RFI) is a document to request information on a product or service from suppliers. The document gives an idea of the offerings by each individual supplier, enabling an enterprise to compare different suppliers or service providers and finally zero in on a potential partner. The RFI document enables quick evaluation of suppliers and how they can fit in with the enterprise’s requirements.

Beyond the purpose of creating a database of suppliers for an enterprise, the request for information document also enables procurement organizations to keep track of several suppliers or service providers with distinctive capabilities, and thereby facilitate the decision-making process.

Continue to read more about what is Request for Proposal (RFP)?