What is bidding rule in SAP AP-RFQ - SRM RFQ Processing?

SAP Term: bidding rule

• Component: AP-RFQ

• Component Name: SRM RFQ Processing

• Description: A condition that controls or restricts the bidding process. Bidding rules are defined in the request for quote and cannot be changed in the corresponding supplier quotes.

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• Key Concepts: 
  A bidding rule is a feature of SAP SRM RFQ Processing that allows buyers to define the criteria for evaluating bids from suppliers. This includes setting the minimum and maximum bid amounts, the number of bids to be accepted, and the time frame for submitting bids. The bidding rule also allows buyers to specify the criteria for awarding the contract, such as price, quality, delivery time, and other factors. 
  
  How to use it: 
  To use the bidding rule feature in SAP SRM RFQ Processing, buyers must first create a request for quotation (RFQ) and define the criteria for evaluating bids. Once the RFQ is created, buyers can set up a bidding rule by specifying the minimum and maximum bid amounts, the number of bids to be accepted, and the time frame for submitting bids. The bidding rule can also be used to specify the criteria for awarding the contract. 
  
  Tips & Tricks: 
  When setting up a bidding rule in SAP SRM RFQ Processing, it is important to consider all of the criteria that will be used to evaluate bids from suppliers. This includes not only price but also quality, delivery time, and other factors. It is also important to set realistic minimum and maximum bid amounts that will ensure a competitive bidding process. 
  
  Related Information: 
  For more information about using SAP SRM RFQ Processing and setting up bidding rules, please refer to SAP’s official documentation on RFQ processing. Additionally, there are many online resources available that provide detailed tutorials on how to use this feature in SAP SRM.