What is Purchasing Contract Processing With Negotiation via RFQ in SAP (AP-PCP - SRM Purchasing Contract Processing)?

SAP Term: Purchasing Contract Processing With Negotiation via RFQ

• Component: AP-PCP

• Component Name: SRM Purchasing Contract Processing

• Description: The processing of purchasing contracts to be negotiated with one or more bidders. The negotiation is initiated by requesting RFQ Execution for a contract and is completed by awarding a supplier quote. By awarding a quote, the contract is updated with the quote data like price or a new contract is created.

Smart SAP Assistant

• Key Concepts: 
  Purchasing Contract Processing With Negotiation via RFQ (AP-PCP SRM) is a component of the SAP Supplier Relationship Management (SRM) system. It enables companies to create and manage contracts with suppliers, and to negotiate terms and conditions with them. The component also allows for the creation of Request for Quotations (RFQs) to solicit bids from suppliers. 
  
  How to Use It: 
  The AP-PCP SRM component can be used to create and manage contracts with suppliers. It allows users to define the terms and conditions of the contract, such as payment terms, delivery dates, and pricing. The component also allows users to create RFQs to solicit bids from suppliers. Once the bids are received, users can compare them and select the best one. 
  
  Tips & Tricks: 
  When creating an RFQ, it is important to provide as much detail as possible about the product or service being requested. This will help ensure that suppliers are able to provide accurate bids. Additionally, it is important to set a deadline for when bids must be submitted in order to ensure that all suppliers have an equal opportunity to submit their bids. 
  
  Related Information: 
  The AP-PCP SRM component is part of the SAP SRM system, which also includes components such as Supplier Evaluation & Qualification (AP-SEQ), Supplier Collaboration (AP-SC), and Supplier Self-Service (AP-SS). These components can be used in conjunction with AP-PCP SRM to further streamline supplier management processes.