Browse Definitions :
Definition

Request for Offer (RFO)

A Request for Offer (RFO) is an open and competitive purchasing process whereby an organization requests the submission of offers in response to specifications and/or a scope of services. An RFO may also include a cost proposal.

The goal of the RFO is to obtain the best value through a competitive process that considers qualitative and quantitative factors in addition to cost. The organization issuing the RFO evaluates responses before negotiating with vendors, awarding a contract or writing a purchase order (PO) for the goods or services.  The process is generally the same as the Request for Proposal (RFP) process. 

An RFO may also refer to the document that an organization publishes as part of this purchasing process.  An RFO document is structured so that potential suppliers know what information the organization needs in order to consider an offer.  

This was last updated in August 2012
Networking
Security
  • quantum key distribution (QKD)

    Quantum key distribution (QKD) is a secure communication method for exchanging encryption keys only known between shared parties.

  • Common Body of Knowledge (CBK)

    In security, the Common Body of Knowledge (CBK) is a comprehensive framework of all the relevant subjects a security professional...

  • buffer underflow

    A buffer underflow, also known as a buffer underrun or a buffer underwrite, is when the buffer -- the temporary holding space ...

CIO
  • benchmark

    A benchmark is a standard or point of reference people can use to measure something else.

  • spatial computing

    Spatial computing broadly characterizes the processes and tools used to capture, process and interact with 3D data.

  • organizational goals

    Organizational goals are strategic objectives that a company's management establishes to outline expected outcomes and guide ...

SearchHRSoftware
  • talent acquisition

    Talent acquisition is the strategic process employers use to analyze their long-term talent needs in the context of business ...

  • employee retention

    Employee retention is the organizational goal of keeping productive and talented workers and reducing turnover by fostering a ...

  • hybrid work model

    A hybrid work model is a workforce structure that includes employees who work remotely and those who work on site, in a company's...

Customer Experience
  • database marketing

    Database marketing is a systematic approach to the gathering, consolidation and processing of consumer data.

  • cost per engagement (CPE)

    Cost per engagement (CPE) is an advertising pricing model in which digital marketing teams and advertisers only pay for ads when ...

  • B2C (Business2Consumer or Business-to-Consumer)

    B2C -- short for business-to-consumer -- is a retail model where products move directly from a business to the end user who has ...

Close