What is approved in SAP AP-RFQ - SRM RFQ Processing?

SAP Term: approved

• Component: AP-RFQ

• Component Name: SRM RFQ Processing

• Description: A status indicating that an approver has approved a request for quote or the buyer's acceptance of a supplier quote.

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• Key Concepts: 
  Approved in SAP SRM RFQ Processing is a status that is assigned to a Request for Quotation (RFQ) when it has been accepted by the supplier. This means that the supplier has agreed to the terms and conditions of the RFQ and is ready to provide the requested goods or services. 
  
  How to use it: 
  In order to assign an approved status to an RFQ, the supplier must first accept the terms and conditions of the RFQ. Once this is done, the status of the RFQ will be changed to approved. This will allow the supplier to begin providing the requested goods or services. 
  
  Tips & Tricks: 
  It is important to ensure that all suppliers have accepted the terms and conditions of an RFQ before assigning it an approved status. This will help ensure that all suppliers are aware of their obligations and can provide the requested goods or services in a timely manner. 
  
  Related Information: 
  For more information on SAP SRM RFQ Processing, please refer to SAP's official documentation on the topic. Additionally, there are many online resources available that provide detailed information on how to use SAP SRM RFQ Processing.