RFI – Request for Information
RFI – Request for Information. Pre qualifying suppliers is what RFI is all about, it shortens the process of procurement through obtaining data and evaluation and thus ensures that the supplier has the essential ability, capacity and experience to produce and supply products and services matching the requisite standards.
This helps in risk mitigation. The main purpose of supplier pre-qualification process is to ensure there is a healthy and competitive prospect that each bidder who participates in online auction, e Tender has the demonstrated ability to carry through the final contract in a satisfactory manner.
Having said all that, one more advantage of this procedure is that, it allows the contracting authority to determine if there is sufficient market interest in bidding. Pre-qualification remains as a standard procedure on most major important projects, especially when circumstances require an extra level of expertise.