An RFI, or Request for Information, is a popular way to get information from suppliers or vendors. Businesses will send an RFI to their suppliers to determine whether they will be able to meet their needs, or to get answers to some other types of questions. In most cases, the RFIs that are sent out will follow a specific format so that the company can send it out to multiple different vendors or suppliers so that the answers are easily comparable.
Some companies require that each department send out RFIs to multiple different suppliers before making purchases. This helps them to ensure they are getting the services at levels that they need as well as at prices that are fair. Gathering RFIs from multiple different suppliers makes it much easier for businesses to make smart decisions that will serve them well long into the future.
RFIs are also commonly used in the construction industry. A contractor or construction company may need to send an RFI to the customer or client to determine how to best proceed. For example, if the customer did not specify what type of framing materials should be used, the contractor may send an RFI asking for this. The RFI document may have spaces for questions about the framing materials in each room, or each segment of the facility.
There are many different types of RFI that are used, and many companies will make up their own to meet their own specific needs. In general, they are a great way to gather information and have it available to use for making future decisions. Almost all businesses can benefit from using RFIs to gather information in a structured way that is easy for vendors and suppliers to respond to.
Similar Glossary Terms
- Perpetual Inventory
- Facility Condition Assessment
- Kanban – Defined
- Warehouse Racking
- Engineering Change Order
- Transformational Leadership
- Levey Jennings Chart
- Process Mapping
- PDCA Cycle