What is rfx?

RFX, short for Request for X, is a document that details the requirements of a project or procurement process and is used to solicit proposals or bids from potential suppliers or vendors. It is commonly used in business processes such as procurement, sourcing, and project management.

There are several types of RFX documents, including RFI (Request for Information), RFQ (Request for Quote), RFP (Request for Proposal), and RFB (Request for Bid), each serving a slightly different purpose.

RFIs are used to gather information from potential suppliers about their capabilities, products, or services, without committing to a purchase. RFQs are used to request pricing information and formal quotes from suppliers. RFPs are more detailed documents that outline project requirements, evaluation criteria, and other specific details, and invite suppliers to submit a formal proposal. RFBs are used for competitive bidding processes and typically request pricing information only.

RFX documents are important tools in the sourcing and procurement process as they help organizations clearly communicate their needs to potential suppliers, compare and evaluate proposals, and ultimately make informed decisions when selecting a supplier.