RFI and RFP are essential tools in the procurement process, helping to define and quantify the requirements of a given project. RFI stands for Request for Information, which is a document that outlines what a vendor needs to submit in order to qualify as a potential contractor. On the other hand, RFP means Request for Proposal, which is an invitation from a buyer to vendors and suppliers to submit their bids for a specific project or purchase. By understanding these documents, buyers can create an engaging process for selecting the optimal vendor for the job.