What is 'close' in SAP AP-RFQ - SRM RFQ Processing?

close - Overview

• Component: AP-RFQ

• Component Name: SRM RFQ Processing

• Description: To permanently conclude a supplier quote or a request for quote and prevent any further changes.

close - Details

• 
  Key Concepts: 
  Close is a term used in SAP SRM RFQ Processing. It is the process of ending a Request for Quotation (RFQ) process. This is done by either accepting or rejecting the quotations received from vendors. 
  
  How to use it: 
  To close an RFQ process, the user must first review all the quotations received from vendors. The user can then decide to accept or reject the quotations. If the user decides to accept a quotation, they must enter the details of the quotation into the system and confirm it. If the user decides to reject a quotation, they must enter a reason for rejection and confirm it. 
  
  Tips & Tricks: 
  When closing an RFQ process, it is important to review all the quotations carefully before making a decision. This will ensure that the best possible outcome is achieved. Additionally, it is important to enter accurate details when accepting or rejecting a quotation as this will ensure that all relevant information is recorded in the system. 
  
  Related Information: 
  For more information on SAP SRM RFQ Processing, please refer to SAP's official documentation at https://help.sap.com/viewer/product/SRM/7.5/en-US