The official business definition of RFI (Request for Information) is a document used to solicit information from potential suppliers. It is used to gather information on products, services, and pricing in order to determine the best solution for a company’s needs. RFI’s are often used in the early stages of the procurement process to help identify potential suppliers and understand their capabilities. The information gathered from an RFI can help companies make informed decisions when selecting a supplier and can also be used to create a more detailed Request for Proposal (RFP). RFI’s are an important part of the procurement process as they allow companies to make sure they are getting the best value for their money.
