What is preparation finished in SAP AP-RFQ - SRM RFQ Processing?

SAP Term: preparation finished

• Component: AP-RFQ

• Component Name: SRM RFQ Processing

• Description: A status indicating that the supplier quote preparation has finished. It can, for example, indicate that the supplier quote has been closed or declined, that it is in approval, or that awarding has already taken place.

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• Key Concepts: 
  Preparation finished is a status in SAP SRM RFQ Processing that indicates that the Request for Quotation (RFQ) is ready to be sent out to vendors. This status is set when all the necessary information has been entered into the RFQ, such as the item description, quantity, and delivery date. 
  
  How to use it: 
  To set the preparation finished status in SAP SRM RFQ Processing, first enter all the necessary information into the RFQ. This includes the item description, quantity, and delivery date. Once all of this information has been entered, click on the “Set Preparation Finished” button. This will set the status of the RFQ to “Preparation Finished” and it will be ready to be sent out to vendors. 
  
  Tips & Tricks: 
  When setting the preparation finished status in SAP SRM RFQ Processing, make sure that all of the necessary information has been entered into the RFQ. This includes the item description, quantity, and delivery date. If any of this information is missing or incorrect, it could lead to delays or errors when sending out the RFQ to vendors. 
  
  Related Information: 
  For more information on SAP SRM RFQ Processing and how to set the preparation finished status, please refer to SAP’s official documentation on SRM RFQ Processing.