RFI - Request for Information
A request for information (RFI) is a common business process whose purpose is to collect written information about the capability of a supplier. Normally it follows a format that can be used for comparative purposes. An RFI is primarily used to gather information to help make a decision on what steps to take next.
Make sure the opportunity is the right fit before you spend time on the RFI response.
If you want LMS to assist you with filling in the RFI document you must:
- attach RFI document to your order
- itemise the section(s) LMS need to answer
- Don't just chuck it over the fence....9/10 cases most of the RFI could have been answered in house before asking LMS to look at the request. The clock is always ticking...
- inform the date by which the RFI needs to be ready to be returned to the client. Be realistic! There really is no point asking anyone to answer 'asap', or state: 'I must submit this document within 24 hours'....EVERYONE knows this document is published well ahead of the deadline and if you want to get it answered in time, you must allow others to have time to answer!
Once LMS have all the information they need, they'll estimate how long it will take to answer & inform you if there are any sections which are your responsibility to answer (just in case the answers to a specific section / question must be given in house or by another supplier)
Then you accept the estimate and supply budget for the work to be done
The answers to your RFI will be reviewed by the Product Manager (Johann Edward) before it is passed back to you.
What you need to keep in mind.
Provided you supply all the information for your RFI and you have the budget for the work, LMS will aim to turn around the request within 2 weeks (from when you approved the budget) if the estimate is under 10 hours.
If by any chance you have a very large RFI to answer then it will take longer to turn around your request (also if the hours required to answer your RFI exceed 10 hours).
How to Respond to an RFI in 3 Steps
- With response to RFI, follow the same approach as other questionnaires you respond to on behalf of your organization.
- Make sure the opportunity is the right fit before you spend time on the RFI response.
- Comb through the RFI to understand what this organization is looking for.
Process Design - Clarity and transparency all the way
