What is RFx? RFx does not stand for anything specifically; as the RF stands for “Request For” and the x is just a placeholder for I, P, B, T and / or Q i.e;
Request for Information (RFI),
Request for Proposal (RFP),
Request for Bid (RFB) (or sometimes Request for Price (RFP)),
Request for Tender (RFT), and /or Request for Quote (RFQ).
RFI / RFP / RFQ are the most common Tendering processes used in Arvo’s sourcing and procurement cycles, while it must be noted that the RFx process is difficult to define as it can range from a simple one-time RFQ to a complex multi-stage RFI / RFP / RFQ process, depending on the needs of the client. Choosing the most appropriate RFx process, is an important task which depends on the objectives of the sourcing event, the completeness of the product/service requirements, the number of suppliers involved, the level of competition between such suppliers, the inherent risk in the sourcing effort, and projected cost savings or cost avoidance opportunities.
Arvo own and operate numerous platforms to expedite the Tender (or eAuction) process which helps with communications, pre-prepared templates, workflow management, access control and analytic tools.
When you require assistance with your next Sourcing Challenge, be it a simple one-time RFQ to a complex multi-stage RFI / RFP / RFQ process, contact us to discuss further.
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