What Does Request for Proposal (RFP) Mean?
A request for proposal (RFP) is a document that describes in detail specifically what product or service a customer wants to purchase and how bids will be evaluated. RFPs are used when a company knows what they want to buy and is soliciting multiple offers.
Techopedia Explains Request for Proposal (RFP)
The process for solicitating RFPs begins when the soliciting vendor issues their first draft of an RFP. This initial step allows potential bidders to ask questions and learn more about what problem the organization is trying to solve. Any information gathered during this stage will be used to improve the final draft of the RFP document.
