ri.ˈkwest fər ˌin.fər.ˈmeiš.n̩ / Request For Information (RFI)
Definition
A request for information (RFI) is a business document aiming to collect information about suppliers and their capabilities. This is done to influence the buyer's purchase decisions.
An RFI is sent to potential suppliers to create a database, develop a strategy, and prepare for a request for proposal (RFP). It's non-binding on both the side of the supplier and the buyer.
The three-to-five page document usually follows a format that the buyer can use for comparison. It contains an executive summary of the functions or operations needed and the specific capabilities that the buyer requires from the potential supplier.
