What is bidding start date and time in SAP AP-RFQ - SRM RFQ Processing?

SAP Term: bidding start date and time

• Component: AP-RFQ

• Component Name: SRM RFQ Processing

• Description: The date and time as of which supplier quotes can be submitted.

Smart SAP Assistant

• Key Concepts: 
  The bidding start date and time is a component of the SAP SRM RFQ Processing module. It is the date and time when the bidding process for a Request for Quotation (RFQ) begins. The bidding start date and time is set by the buyer and is used to determine when the bidding process will begin. 
  
  How to use it: 
  The bidding start date and time can be set by the buyer in the SAP SRM RFQ Processing module. The buyer can select a date and time that is convenient for them, and this will be used to determine when the bidding process will begin. The buyer can also set a deadline for when the bids must be submitted. 
  
  Tips & Tricks: 
  It is important to set a realistic bidding start date and time that allows vendors enough time to prepare their bids. It is also important to set a reasonable deadline for when bids must be submitted, as this will ensure that all vendors have an equal chance of submitting their bids on time. 
  
  Related Information: 
  The bidding start date and time is just one component of the SAP SRM RFQ Processing module. Other components include creating an RFQ, setting up vendors, evaluating bids, awarding contracts, and managing contracts.