Rfx Procurement is an official business term used to describe the process of obtaining goods and services from outside vendors. It is a formal process of requesting, evaluating, and selecting vendors based on their ability to meet the organization’s needs. The process begins with a Request for Proposal (RFP) or Request for Quotation (RFQ) that outlines the organization’s requirements and criteria for selecting a vendor. Vendors then submit their bids, which are evaluated based on the criteria outlined in the RFP or RFQ. Once a vendor is selected, the organization and vendor enter into a contract that outlines the terms and conditions of the procurement. Rfx Procurement is an important part of the overall procurement process and is essential for ensuring that the organization obtains the best value for its money.