What is a Request for Proposal? : A Request for Proposal (RFP) is a document that is issued to suppliers to help them provide the information needed to make a preferred supplier decision.
When do I use a Request for Proposal? : You need to create a Request for Proposal whenever you want to request a proposal from external suppliers. The Request for Proposal describes the nature of the proposal you’re seeking from them and the timeframes for delivering it. The Request for Proposal also includes key terms and conditions you intend to include in a supplier agreement.
Your Request for Proposal should :
- Tell suppliers about your purchasing needs
- Inform suppliers of the information that you need from them
- Help you to Make preferred supplier decision
