What is the purpose of a Request for Information (RFI) document?

The purpose of a Request for Information (RFI) document is primarily to gather information about suppliers and their capabilities. An RFI is typically used in the early stages of the procurement process when an organization seeks to understand the market and what options are available to them. Through an RFI, businesses request detailed information from potential suppliers regarding their products, services, expertise, and overall capabilities, which can help in making informed decisions in later stages of the procurement cycle.

This approach allows organizations to compare different suppliers based on their responses, helping them identify potential candidates for further engagement in the procurement process, such as sending out Requests for Proposals (RFPs) or Requests for Quotations (RFQs). Ultimately, an RFI is about gathering knowledge and insights rather than soliciting bids or specific solutions, which aligns with the correct choice in this context.