What does a request for information (RFI) aim to accomplish?

The purpose of a Request for Information (RFI) is primarily to gather information from potential suppliers. This process allows organizations to better understand the capabilities, services, and products offered by various vendors. By issuing an RFI, a company can collect essential data that helps define requirements and assess which suppliers have the resources and expertise to meet their needs. This initial step is vital in the procurement process, as it lays the groundwork for making informed decisions about future actions, such as whether to proceed with a Request for Proposal (RFP) or Request for Quotation (RFQ).

The other options, while relevant in the broader context of procurement, do not accurately represent the specific function of an RFI. Comparing costs is typically conducted after receiving detailed quotes or proposals. Initiating contract negotiations occurs later in the procurement process, after suppliers have been evaluated and selected. Drafting a bidding document usually follows the RFI phase, once the organization has a clearer understanding of its needs and the capabilities of suppliers.