The term “RFX” is a general collective term and can refer to a Request for Proposal (RFP), a Request for Information (RFI), a Request for Quotation (RFQ) or a Request for Tender (RFT).
The RFX is generally released at an early stage in a procurement process, issuing an invitation for suppliers, often through a bidding process to submit a proposal or information on a specific commodity or service. This process brings structure to the procurement decision and allows the risks and benefits to be identified clearly upfront.
An RFX may dictate, to varying degrees, the structure and format of the supplier's response. An effective RFX will typically reflect the strategy and short/long-term business objectives, providing detailed insight upon which suppliers will be able to offer a matching perspective.