What is closure status in SAP AP-RFQ - SRM RFQ Processing?

SAP Term: closure status

• Component: AP-RFQ

• Component Name: SRM RFQ Processing

• Description: A status variable that describes whether the business transaction for a request for quote, an RFQ request, a supplier quote, or a request for information is closed.

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• Key Concepts: 
  Closure status is a feature in SAP SRM RFQ Processing that allows users to close a request for quotation (RFQ) and prevent any further changes to the document. This ensures that the RFQ is finalized and all relevant information is captured before it is sent out to suppliers. 
  
  How to use it: 
  To set the closure status of an RFQ, go to the “RFQ Overview” screen in SAP SRM. Select the RFQ you want to close and click on the “Closure Status” button. You will then be prompted to enter a reason for closing the RFQ. Once you have entered the reason, click “OK” and the closure status will be set. 
  
  Tips & Tricks: 
  It is important to remember that once an RFQ has been closed, it cannot be reopened or edited. Therefore, it is important to double-check all information before setting the closure status. 
  
  Related Information: 
  For more information on SAP SRM RFQ Processing, please refer to the official SAP documentation at https://help.sap.com/viewer/product/SRM/7.5/en-US