The Procurement Glossary » Request for Information (RFI)
Request for Information (RFI)
Sourcing & RFx
Also known as: RFI
Definition
A preliminary questionnaire used to gather information about the market and potential suppliers before running a formal RFQ or RFP.
Explanation
An RFI is not a bid; it is market research. It helps a buyer understand what solutions exist, which suppliers are capable, and how to shape the eventual requirement. Responses are used to shortlist suppliers for the next stage rather than to award business.
Example
Before sourcing a new ERP integration, a procurement team sends an RFI to ten vendors to learn about capabilities, then invites four to the RFP.
Related terms
- Request for Quotation (RFQ) — A sourcing document that asks multiple suppliers to price the same clearly-specified requirement so their bids are directly comparable.
- Request for Proposal (RFP) — A sourcing document inviting suppliers to propose how they would meet a requirement, evaluated on approach and value — not price alone.
- Supplier Prequalification — The process of screening suppliers against minimum requirements before inviting them to bid, to ensure only capable, compliant suppliers compete.
- Sourcing — The upstream procurement activity of finding, evaluating and selecting the suppliers a business will buy from.
Frequently Asked Questions
What is Request for Information (RFI)?
A preliminary questionnaire used to gather information about the market and potential suppliers before running a formal RFQ or RFP. An RFI is not a bid; it is market research. It helps a buyer understand what solutions exist, which suppliers are capable, and how to shape the eventual requirement. Responses are used to shortlist suppliers for the next stage rather than to award business.
Can you give an example of Request for Information (RFI)?
Before sourcing a new ERP integration, a procurement team sends an RFI to ten vendors to learn about capabilities, then invites four to the RFP.
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