The RFP Process

There is a formal bidding process called a request for proposal or RFP for short. This is used by businesses to leverage suppliers against one another so that the business can get the best price possible. The process is started when a business puts together a list of requirements and details so that the suppliers know exactly what they are looking for. This may be relative to services or commodities. Once they have that together, they will send that to the suppliers that they are talking to and give a formal RFP.