What does RFX Mean

 

Have you heard of the term RFX and what does it mean?

The X is a substitute for I, Q or P

For example, RFI stands for Request for Information, this can be used to extract information about a company to be used with an accompanying scoring sheet to decide if the organisation is suitable for inviting to tender. The public sector uses a more formal form of RFI called the Pre- Qualification Questionnaire (PQQ/SQ). The RFI can also be useful for fact finding when warming up the market or building a view of the supplier landscape based on desktop research.

RFQ is typically used for three quotes and is sometimes known as a competitive quote. Typically procurement will not be involved in the buying decision for an RFQ because of the high volume and low value.

RFP stands for Request for Proposal and sometimes people use the term ITT or Invitation to Tender instead. Procurement is likely to be involved in RFP and ITT tenders because these are more likely to be high profile, higher value and more complex. A proposal is normally used when you buy an output such as consultancy services as the reliance is for the supplier to create a proposal that delivers a solution against the specified criteria.

Suppliers can find upcoming contracts on the Government portal Contracts Finder