Most of the time, an e-Request for Information is used at the start of the procurement cycle, to conduct pre-tender market research or set up continual innovation capture.
Industry example: Your company is considering outsourcing certain IT services and you’d like to do a bit of market research to learn how various suppliers would be able to meet your needs.
An e-Request for Information can be used when a buyer is preparing to source a supplier, or simply to allow a buyer to remain informed of activity and innovation in the marketplace. It’s prudent to gather information and develop a feel for the capabilities and credentials of the suppliers available.
An e-Request for Information is an effective way to gauge supplier interest and conduct an initial comparison of suppliers, affirming a buyer’s requirements and strategy before moving on to the next stage of the procurement process.
Once the e-Request for Information cycle has come to an end, the buyer will have laid the foundations to move on to an informed e-Request for Quotation, Tender or Proposal, armed with all the material necessary to find the ideal supplier.
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