Posted in What is sourcing software? last updated on June 13, 2011
eRFx is shorthand for: * Request For Proposal (RFP)Request For Quote (RFQ) Request For Information (RFI)* Invitation To Tender (ITT) or Pre Qualification Questionnaire (PQQ0) r Each case involves a buying organization asking a set of questions from potential vendors or suppliers.
The 'e' stands for 'electronic'. The term eRFx is generally only applied to cases where the project is managed via web based software.
An eRFx questionnaire is a bit like a college examination. It consists of a number of questions, arranged into sections and subsections. Respondents (potential suppliers) provide answers to these questions, and the buyer scores these answers. Questions and sections are given a weighting which determines the contribution of each question's score to the total, overall score. This process is felt to give the buyer a good chance of selecting the supplier which best fits the requirements of the project.