RFx software refers to Request For Information (RFI), Request For Proposal (RFP), and/or Request For Quote (RFQ). All three have different functions.
1. Request For Information (RFI) refers to identifying potential suppliers and deducing if current suppliers are able to supply a new product or service.
2. Requests For Proposal (RFP) are proposals issued to suppliers who have been labeled as potential suppliers for further understandings.
3. Requests For Quote (RFQ) are issued to accumulate (initial) bids once a section of qualified suppliers has been determined.
« Back to Glossary Index