My Request for Information

My Request for Information

01 November 2010

A request for information sounds like a rather informal way of obtaining knowledge, but appearances can be deceiving. This is the first part of an exploratory venture to locate the best possible raw materials at the best price.

The request for information document is part of a company’s communication plan that was documented before the project had commenced. Usually, this document is created using a project management template program with a specific purpose in mind. This is to relay the necessary information to a third party vendor on just exactly what is needed for your project. For the best possible results, no ambiguity should be left to chance in this document.

The reason a request for information is sent out is because the necessary information or resources that are needed by a business cannot be obtained by any in-house means. So a third party must be contacted for this resource to be obtained. This is the reason the language used in this document must be clear and concise.

The request for information is just the first step for a business to acquire the necessary information on raw materials that is needed. Once many RFIs are sent out and responded to, decision can be made on the next step.  In most cases, 3 to 10 of these documents are sent out to all known parties that know the information or have the raw material.

Once the responses to the request for information are received back by the sending company, an informed decision can be made on the matter. The information obtained should include the availability of the information or raw material. The price per unit and price in bulk will also be very helpful. In most cases, the delivery time is the deciding factor. If the lowest price offer cannot meet your needs, then the delay might cost more than it would be by going with a more expensive vendor.

The request for information is a necessary formal document that is part of a company’s communication plan with the sole intent of obtaining the best possible price for a needed material.