A Request for Information (RFI) is a formal process used by organizations to gather information about products, services, or suppliers. It helps them understand the options available in the market before making a decision. Typically, an RFI is issued when a company is exploring potential solutions and wants to learn more about what vendors can offer. In an RFI, the organization outlines its needs and asks suppliers to provide relevant information, such as their capabilities, experience, and pricing. This process allows companies to compare different offerings and make informed choices, ultimately leading to better procurement decisions for projects or services.