What is the purpose of a Request for Information (RFI)?

The purpose of a Request for Information (RFI) is primarily to gather information about suppliers' capabilities and offerings. This document allows organizations to collect relevant data and insights from potential suppliers before proceeding to more formal procurement activities. An RFI is typically used in the early stages of the procurement process, enabling a company to understand the market landscape and evaluate which suppliers possess the necessary skills, resources, and technologies relevant to their needs.

Using an RFI helps organizations assess potential partners and identify any gaps in capabilities that may exist. This foundational knowledge can inform future steps, such as whether to issue a Request for Proposal (RFP) or Request for Quotation (RFQ) based on the insights gained about suppliers' competencies.

Other options, such as receiving quotations for specific products, soliciting proposals, or outlining contract management practices, pertain to more advanced stages of the procurement process. An RFI is distinct in its focus on information gathering rather than on the transactional elements that follow.