A ‘Request for a Proposal’ (RFP) is a strategic business tool used to communicate the needs for product(s) or service(s) in an organized and structured fashion to Sellers (Suppliers).
An ‘RFP’ provides suppliers with project scope, deliverables, timelines, and much more.
The bottom line, a robust RFP process helps organize and streamline the procurement process when quoting projects and is very helpful when competing the company’s business among different sources.
If you need an illustration of a Request for Proposal (RFP) outline, you can download a copy using the link below.